Latest


Indian Overseas Bank reduces interest rates on loans

  •   Sun, Jun 07 2020 04:55:26 PM

New Delhi, Jun 7 (IANS): Chennai-based public sector bank Indian Overseas Bank (IOB) on Sunday said that it has reduced its interest rate on loans linked to MCLR by 30 basis points (bps) in overnight tenor and by 20 bps in one month to one year tenors with effect from June 10.

In a statement, the bank said that loans linked to marginal cost of funds based lending rate (MCLR) will become cheaper.

IOB has also reduced its interest rate on loans linked to repo-linked lending rate (RLLR) from 7.25 per cent to 6.85 per cent per annum.

"Retail loans (housing, education, vehicle etc.), loans to micro, small enterprises and medium enterprises, which are linked to RLLR will now be available at cheaper rates," it said.

 
  

Top Stories

Residential project ‘Siara Homes’ – Construction in full swing at Pakshikere

  •   3 hours ago   

Leave a Comment

Title: Indian Overseas Bank reduces interest rates on loans



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like