Tamilnad Mercantile Bank has decided to up its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across the board with effect from July 07, 2026.The private sector bank’s revised MCLR for overnight and one-month will be 7.70 per cent (against the current 7.60 per cent) each; three months: 8.40 per cent (8.30 per cent); six months: 8.95 per cent (8.85 per cent) and one year: 9.35 per cent (9.25 per cent).Loans such as corporate loans, business loans (non-MSME) and loans against property are linked to this benchmark.MCLR comprises of marginal cost of funds; negative carry on account of the cash reserve ratio; operating costs; and tenor premium.Published on July 6, 2026