Public sector lender Indian Overseas Bank has revised the marginal cost of fund based lending rates (MCLR) with effect from May 10 until further review.
Rate of interest for overnight and one month MCLR remains unchanged at 7.80% and 7.95% respectively.
For three months, the rate will be 8.05% against 8.10%, six month 8.10% (8.15%), one year 8.15% (8.25%), two year 8.20% (8.30%) and three years 8.25% (8.35%), said the bank in a statement.