INTEREST RATE FRAMEWORK
MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st September, 2023.
Tenor – wise MCLR effective from 1st September 2023 is as under
| Tenor | MCLR (%) September'23 |
| Overnight MCLR | 13% |
| 1 Month MCLR | 13.25% |
| 3 Month MCLR | 13.45% |
| 6 Month MCLR | 13.60% |
| 1 Year MCLR | 13.85% |
External benchmark Rates effective from 1st September 2023 are as under -
| Bench Mark | September 23 |
| External Benchmark Rate - 1* | 7.04% |
| External Benchmark Rate - 2 # | 7.10% |
| Repo Rate | 6.50% |
* Arrived based on 3 months’ average yield of 3 –year Government of India Bond
