Indian Bank reduces MCLR and benchmark rates linked to Repo rate

Indian Bank has revised the Marginal Cost of Funds Based Lending Rates (MCLRs) with effect from 03 July 2020 as detailed below:

Overnight - 7.10%
1 month - 7.15%
3 months - 7.30%
6 months - 7.35%
1 year - 7.40%

The Bank has also reduced its benchmark rates by 40 bps for all loans/advances linked with external benchmark (Policy REPO rate) with effect from 01 July 2020.

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