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Monday, April 15, 2019

Indian Overseas Bank reduces interest rate on Loans


Indian Overseas Bank reduces interest rate on Loans

Taking a cue from the latest policy measures announced by Reserve Bank of India and to support growth of Economy, Indian Overseas Bank, Chennai based public sector bank, reduced its interest rate on loans (MCLR) by 5 basis points in One Year and above tenors wef 10.04.2019.

Hence, various loans like Housing Loan, Vehicle Loan etc., will become cheaper. Revised interest rates on loans (MCLR) are detailed here under.


The revised MCLR will be effective from 10th April 2019

TENOR
MCLR
Overnight
8.15%
1 Month
8.30%
3 Months
8.45%
6 Months
8.50%
1 Year
8.65%
2 Years
8.75%
3 Years
8.85%


Indian Overseas Bank reduces interest rate on Loans Reviewed by Investment Guru on April 15, 2019 Rating: 5 Indian Overseas Bank reduces interest rate on Loans Taking a cue from the latest policy measures announced by Reserve Bank of India an...

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