: Public sector Indian Overseas Bank
would revise its marginal cost of funds based lending rate (MCLR), the bank said here on Wednesday.
The rate of interest would be revised to 8.05 per cent from the existing 8.10 per cent for tenure of three months and 8. 10 per cent for six months from 8.15 per cent, IOB said in a BSE filing.
For one year tenure, the rate of interest has been fixed at 8.15 per cent as against 8.25 per cent and 8.20 per cent for two years from the existing 8.30 per cent.
For tenures of three years, the rate of interest has been revised to 8.25 per cent from current 8.35 per cent.
However, the bank said the rate of interest remains unchanged at 7.80 per cent for overnight and one month tenures.
The revised rate of interest would come into effect from May 10, it said.
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