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SBI, IOB Cut MCLR Across Tenures
Financial Express Hyderabad
|August 16, 2025
STATE BANK OF India (SBI) and Indian Overseas Bank (IOB) on Friday revised their marginal cost of funds-based lending rate (MCLR) by 5 basis points and 10 basis points, respectively, across all tenures as notified on their websites.
With this, the rates of State Bank of India are in the range of 7.90-8.85%. A month ago, the bank had reduced its MCLR by 25 basis points across tenures. While for Indian Overseas Bank, the rates are in the range of 8.05-8.85%. These revised rates are effective from Friday.
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