CHENNAI:
In line with the decision of RBI to reduce Repo rate by 25 bps, Chennai based Public Sector Bank Indian Overseas Bank has reduced the Interest rate applicable for Retail segment (Housing, Vehicle, Education and Clean loans} and Micro & Small Enterprises by 25 bps and the revised Repo Linked Lending Rate will be 8% reduced from 8.25% with effect from 01.11.2019.
Earlier Indian Overseas Bank had linked Repo Linked Lending Rate (RLLR) to its loans to be sanctioned under Retail segment (Housing, Vehicle, Education and Clean loans) and Micro & Small Enterprises with effect from 1st October 2019.
