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INTEREST RATE FRAMEWORK

MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st December, 2022.

Tenor – wise MCLR effective from 1st December 2022 is as under

Tenor MCLR (%) Dec'22
Overnight MCLR 12.50%
1 Month MCLR 12.90%
3 Month MCLR 13.50%
6 Month MCLR 13.90%
1 Year MCLR 14.05%

External benchmark Rates effective from 1st December 2022 are as under -

Bench Mark Dec 22
External Benchmark Rate - 1* 7.08%
External Benchmark Rate - 2 # 7.32%
Repo Rate 5.90%


* Arrived based on 3 months’ average yield of 3 –year Government of India Bond.

# Arrived based on 3 months’ average yield of 10 – year Government of India Bond