Tamilnad Mercantile Bank Limited has informed the Exchange about the Revision in Marginal Cost of Funds Based Lending Rate (MCLR) of the Bank
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Tamilnad Mercantile Bank has revised its one-year MCLR downward from 9.60% to 9.50%, effective from 7 May 2025. This is a reduction of 10 basis points in the benchmark lending rate used for pricing loans. MCLR revisions are routine and reflect changes in the bank's cost of funds. The revised rate applies to new and floating-rate loans linked to the one-year MCLR benchmark.
Lower MCLR is mildly positive for borrowers as it can reduce loan EMIs or improve loan affordability, but may slightly compress the bank's net interest margins. For shareholders, this is a routine, marginal rate revision and is unlikely to have a material impact on the stock price.