Indian Overseas Bank Lowers 1-Month MCLR to 8.20% by 10 Bps, Effective March 15

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IOB Slashes 1-Month MCLR by 10 Bps to 8.20% from March 15; Q3 Profit Soars 56%

IOB Slashes 1-Month MCLR by 10 Bps to 8.20% from March 15; Q3 Profit Soars 56%

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CNBC TV18•12-03-2026, 19:07

IOB Slashes 1-Month MCLR by 10 Bps to 8.20% from March 15; Q3 Profit Soars 56%

•Indian Overseas Bank (IOB) cut its one-month marginal cost of funds-based lending rate (MCLR) by 10 basis points to 8.20%.
•The revised rate is effective from March 15, 2026, following a decision by the Asset Liability Management Committee (ALCO) on March 12.
•Only the one-month tenor was reduced; other MCLR tenors, including overnight, three-month, and one-year, remain unchanged.
•The bank reported a strong Q3 performance, with net profit rising 56.2% year-on-year to ₹1,365 crore.
•Asset quality improved significantly, with gross NPAs easing to 1.54% and net NPAs declining to 0.24%.

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