Bank Of India has informed the Exchange regarding 'Revision in MCLR w.e.f.01.05.2025'.
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Awaiting price reaction for this filing.
Bank of India has informed the stock exchange about a revision in its Marginal Cost of Funds based Lending Rate (MCLR), with the new rates taking effect from 1 May 2025. MCLR is the internal benchmark rate used by banks to price most floating-rate loans such as home loans, personal loans, and corporate loans. The revision will reset the interest rates on existing MCLR-linked loans and determine the pricing on new loans disbursed after this date. The actual rate change (increase, decrease, or across which tenures) is not specified in the headline, so the direction of impact on borrowers and bank margins cannot be confirmed from this filing alone.
A higher MCLR would increase borrowing costs for MCLR-linked loan customers and could lift the bank's net interest income, while a cut would lower EMIs for borrowers and squeeze margins. Shareholders should watch for the detailed rate card to gauge the directional impact on profitability.