Tamilnad Mercantile Bank ups MCLR by 10 bps
1 min readEffective July 7, 2026, Tamilnad Mercantile Bank has increased its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across all tenors.
The bank’s updated MCLR rates are: overnight and one‑month at 7.70 % (up from 7.60 %); three‑month at 8.40 % (up from 8.30 %); six‑month at 8.95 % (up from 8.85 %); and one‑year at 9.35 % (up from 9.25 %).
Corporate loans, non‑MSME business loans and loans against property are pegged to this MCLR benchmark.
MCLR is calculated using the marginal cost of funds, the negative carry due to the cash reserve ratio, operating expenses, and the tenor premium.
Published on July 6, 2026
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