INTEREST RATE FRAMEWORK
MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st APRIL 2021.
Tenor – wise MCLR effective from 1st May 2021 is as under
| Tenor | MCLR (%) |
| Overnight MCLR | 12.35% |
| 1 Month MCLR | 12.25% |
| 3 Month MCLR | 12.25% |
| 6 Month MCLR | 12.30% |
| 1 Year MCLR | 12.95% |
External benchmark Rates effective from 1st May 2021 are as under -
| Bench Mark | Rate |
| External Benchmark Rate - 1* | 6.11% |
| External Benchmark Rate - 2 # | 5.07% |
* Arrived based on 3 months’ average yield of 10 –year Government of India Bond.
