MCLR revised w.e.f 15.10.2026: 5 bps rise in most tenors, one-month rate left unchanged

The bank has informed the exchanges of a revision in its Marginal Cost of Funds based Lending Rate (MCLR), with effect from 15.10.2026, to remain in force until further review.

Mon 12 Oct 2026

Overnight MCLR

7.95%

One-Year MCLR

8.90%

Three-Year MCLR

8.95%

The bank has informed the exchanges that its Marginal Cost of Funds based Lending Rate (MCLR) will be revised with effect from 15.10.2026. The revised rates are stated to remain in force until further review.

Revised rates by tenor

• Overnight MCLR: 7.95%, up 5 bps
• One-Month MCLR: 8.25%, no change
• Three-Month MCLR: 8.50%, up 5 bps
• Six-Month MCLR: 8.75%, up 5 bps
• One-Year MCLR: 8.90%, up 5 bps
• Two-Year MCLR: 8.90%, up 5 bps
• Three-Year MCLR: 8.95%, up 5 bps

What MCLR is

MCLR is the benchmark minimum interest rate below which a bank is not permitted to lend. Loans that are priced with reference to MCLR are reset when this benchmark changes, so a change in MCLR is the trigger for a change in the interest cost on such loans.

What to note

• Six of the seven tenors listed are being raised; only the one-month tenor is left unchanged.
• Where there is a change, it is a uniform 5 bps, which is a small step in percentage terms.
• The revision applies from 15.10.2026 and is stated to continue until further review.

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