Bank Of India has informed the Exchange regarding 'Change in MCLR w.e.f.01.07.2025'.
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Bank of India has revised its Marginal Cost of Fund based Lending Rate (MCLR) downward by 5 basis points across all tenors, effective 1 July 2025. The overnight rate falls to 8.10% from 8.15%, 1-month to 8.40% from 8.45%, 3-month to 8.55% from 8.60%, 6-month to 8.80% from 8.85%, 1-year to 9.00% from 9.05%, and 3-year to 9.15% from 9.20%. The Repo Based Lending Rate (RBLR) remains unchanged. The Fixed Rate Spread (FRS) for retail loans has also been revised, with the rate of interest on 3-year MCLR-based fixed rate retail loans standing at 10.65% (including 1.50% FRS).
A uniform 5 bps cut across the MCLR curve means marginally cheaper loans for new borrowers, which can slightly pressure the bank's net interest margins, though it may support loan demand. For shareholders, this is a routine pricing update and is unlikely to materially move the stock on its own.