Indian Bank Cuts TBLR-Based Loan Rates - Lower Interest Rates

By By Rediff Money Desk, New Delhi
May 02, 2024 21:21
Indian Bank has reduced its Treasury Bills benchmark lending rates (TBLR) across tenure, effective May 3, 2023. The bank has also retained its MCLR-based lending rates.
New Delhi, May 2 (PTI) State-owned Indian Bank on Thursday cut the Treasury Bills benchmark lending rates (TBLR) across tenure, with effect from May 3.

The bank, however, retained the marginal cost of funds ( MCLR)-based lending rates.

TBLR for loans of 3 months or less will have interest of 6.85 per cent, lower than 6.9 per cent currently. Loans for more than 3 months, but less than 6 months will attract an interest rate of 7 per cent against 7.10 per cent currently.

TBLR loans for less than a year and that of between 1 year to less than 3 years will carry interest of 7.05 per cent compared to 7.10 per cent presently.

"The Asset Liability Management Committee (ALCO) of the Bank has reviewed the Marginal Cost of funds based Lending Rate (MCLR), Treasury Bills Linked Lending Rates (TBLR), Base Rate and Benchmark Prime Lending Rate (BPLR) and decided for downward revision of TBLR, across Tenors," Indian Bank said in a regulatory filing.
Source: PTI
Read More On:
indian banktblrloan ratesinterest ratesmclr
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Small Tea Growers Seek Curb on Sub-Standard...

Indian small tea growers urge the government to restrict sub-standard tea imports from...

Nuvama-Cushman & Wakefield JV Raises Rs 1,700...

Nuvama and Cushman & Wakefield JV raises Rs 1,700 crore for its Prime Offices Fund,...

HUL Stock Falls 4% After Disappointing Earnings

Hindustan Unilever (HUL) stock dropped nearly 4% after its December quarter earnings...

CCPA Issues Notice to Apple Over iPhone...

India's Consumer Protection Authority (CCPA) has issued a notice to Apple over reported...

AWS to Invest USD 8.3 Billion in Maharashtra...

AWS announces a USD 8.3 billion investment in cloud infrastructure in Maharashtra by...

NDA 3.0 Budget: Subbarao Urges Structural Reforms

Former RBI Governor D. Subbarao calls for structural reforms in the upcoming budget,...

Stallion India Fluorochemicals Debuts at 33%...

Stallion India Fluorochemicals shares surged over 33% on their debut trade, hitting the...

Walmart Pilots India Startups for Supply Chain...

Walmart partners with Indian startups for supply chain solutions, including sustainable...

Indian Markets Rise After Initial Dip: IT &...

Indian stock markets, Sensex and Nifty, reversed early losses to trade higher on...

Rupee Falls 5 Paise to 86.40 vs US Dollar

The Indian rupee weakened 5 paise to 86.40 against the US dollar in early trade on...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com