Bank Of India has informed the Exchange about Change in Interest Rates
BANKINDIA · price
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Bank of India has revised its Marginal Cost of Fund based Lending Rate (MCLR) effective 1st June 2026. Most tenor buckets saw a marginal increase: Overnight MCLR rose from 7.70% to 7.80%, while 1-month, 3-month, and 6-month tenors increased by 5 basis points each to 8.10%, 8.25%, and 8.65% respectively. The 1-year and 3-year MCLR remained unchanged at 8.75% and 8.90%. The Repo Based Lending Rate (RBLR) was kept unchanged, while Fixed Rate Spread (FRS) was also revised for various tenors.
The MCLR hike, though modest, signals a tightening stance and could marginally increase lending costs for borrowers on variable-rate loans. For depositors, this may eventually translate to better deposit rates. The unchanged RBLR indicates selective rate management by the bank.