16
Jul
#IndianOverseasBank #MCLR #InterestRateCut #LoanEMI #RLLR #HomeLoan #AutoLoan #PersonalLoan #BankingNews #FinancialRelief #RetailLoans #IOBNews #LoanReset #AffordableCredit #ChennaiBanking #MCLRCutJuly2025 Chennai: In a borrower-friendly move, Indian Overseas Bank (IOB) has announced a 10 basis points (bps) reduction in its Marginal Cost of Funds-Based Lending Rate (MCLR) across all tenors, effective July 15, 2025. The decision was taken at the Asset Liability Management Committee (ALCO) meeting held on July 14. This marks a continuation of the bankтАЩs ongoing efforts to make credit more affordable. Notably, IOB had already reduced its Repo Linked Lending Rate (RLLR) by 50 bps тАФ from 8.85% to 8.35%, effective June…
