IOB

reduced its one-month marginal cost of funds-based lending rate (MCLR) by 10 basis points to 8.20%, effective March 15, 2026. The overnight MCLR remains at 7.95%, and other tenors are unchanged. This reduction comes ahead of the bank's strong Q3 performance, with a 56.2% year-on-year increase in net profit to ₹1,365 crore.