For one year tenure, the rate of interest has been fixed at 8.15 percent as against 8.25 percent and 8.20 percent for two years from the existing 8.30 percent.
PTI
@moneycontrolcom
Public sector Indian Overseas Bank would revise its marginal cost of funds based lending rate (MCLR), the bank said here on Wednesday.
The rate of interest would be revised to 8.05 percent from the existing 8.10 percent for tenure of three months and 8. 10 percent for six months from 8.15 percent, IOB said in a BSE filing.
For one year tenure, the rate of interest has been fixed at 8.15 percent as against 8.25 percent and 8.20 percent for two years from the existing 8.30 percent.
For tenures of three years, the rate of interest has been revised to 8.25 percent from current 8.35 percent.
However, the bank said the rate of interest remains unchanged at 7.80 percent for overnight and one month tenures. The revised rate of interest would come into effect from May 10, it said.
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First Published on May 6, 2020 05:15 pm
