“…we have to inform you that the Asset Liability Management Committee (ALCO) of the Bank has reviewed the Marginal Cost of funds based Lending Rate (MCLR), Treasury Bills Linked Lending Rates (TBLR), Base Rate and Benchmark Prime Lending Rate (BPLR) and decided for revision in MCLR & TBLR,” according to a stock exchange filing.
Under MCLR, the bank raised the 3-month tenor to 8.50% from 8.40%, the 6-month tenor to 8.75% from 8.65%, and the 1-year tenor to 8.85% from 8.75%. The overnight rate remained unchanged at 7.90%, while the 1-month tenor also stayed steady at 8.20%.
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In TBLR, rates were revised upward across tenors. The rate for up to 3 months was increased to 5.35% from 5.25%, the above 3 months and up to 6 months tenor to 5.55% from 5.45%, and both the above 6 months up to 1 year and above 1 year up to 3 years segments were raised to 5.75% from 5.60%.
The Base Rate at 9.55%, Benchmark Prime Lending Rate (BPLR) at 13.80%, Policy Repo Rate at 5.25%, and Repo Linked Benchmark Lending Rate (RBLR) at 7.95% remained unchanged.
Shares of Indian Bank Ltd ended at ₹809.50, down by ₹28.50, or 3.40%, on the BSE.
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(Edited by : Jomy Jos Pullokaran)
