MCLR Hike: IOB has increased the MCLR of all tenures. The bank will increase the rate by 0.05 to 0.1% from Monday.MCLR Hike: This is a big shock for the customers of the government bank Indian Overseas Bank. Indian Overseas Bank has announced an increase in Margin Cost of Funds Based Lending Rate (MCLR). According to exchange filing, the government bank will increase MCLR by 0.05 to 0.10 percent. The bank said that MCLR rates will increase from Monday. Let us tell you that MCLR is the minimum rate below which the bank is not allowed to give loan. That means this is the minimum rate of loan given by the bank.What is IOB’s MCLR Rate?According to IOB, overnight MCLR is 8.05 percent, which…
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MCLR Hike: This bank has increased MCLR for all tenures, loans may become expensive
