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INTEREST RATE FRAMEWORK

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

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

Tenor MCLR (%)
Overnight MCLR 11.40%
1 Month MCLR 11.50%
3 Month MCLR 12.05%
6 Month MCLR 12.45%
1 Year MCLR 13.30%

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

Bench Mark Rate
External Benchmark Rate - 1# 6.56%
External Benchmark Rate - 2 * 7.28%


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

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