South Indian Bank has announced a revision of its Marginal Cost of Funds Based Lending Rates (MCLR) across various tenors, effective from October 20, 2026. The updated rates reflect changes in the bank’s cost of funds, impacting loan pricing for customers. Key revisions include the overnight MCLR at 8.20% and the one-year MCLR at 9.50%.
South Indian Bank Updates MCLR
South Indian Bank has announced a significant update regarding its Marginal Cost of Funds Based Lending Rates (MCLR). In accordance with regulatory requirements, the bank has revised its MCLR for multiple tenors, with the new rates becoming effective from October 20, 2026. This revision is a standard procedure reflecting the dynamic cost of funds for the bank.
Revised MCLR Rates
The updated MCLR structure, applicable from October 20, 2026, is as follows:
- Overnight MCLR: 8.20%
- One-month MCLR: 8.55%
- Three-month MCLR: 9.25%
- Six month MCLR: 9.30%
- One year MCLR: 9.50%
These revised rates will influence the borrowing costs for various loans offered by South Indian Bank. The bank has also confirmed that this information is available on its official website.
Source: BSE
