Indian Overseas Bank (IOB) has announced a revision in its Marginal Cost of Funds based Lending Rate (MCLR). The Asset Liability Committee (ALCO) of the bank, in its meeting held on January 13, 2026, reviewed the MCLR workings as of January 10, 2026. As a result, the Overnight MCLR has been reduced by 5 basis points (bps).

The revised MCLR rates will be effective from January 15, 2026, until further review. The Overnight MCLR has been decreased from 8.00% to 7.95%.

Other MCLR tenors, including One-Month, Three-Month, Six-Month, One-Year, Two-Year, and Three-Year MCLR, remain unchanged at 8.30%, 8.40%, 8.65%, 8.80%, 8.80%, and 8.85% respectively.