Interest-rate-icon

INTEREST RATE FRAMEWORK

MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st OCTOBER, 2021.

Tenor – wise MCLR effective from 1st October, 2021 is as under

Tenor MCLR (%)
Overnight MCLR 12.40%
1 Month MCLR 12.25%
3 Month MCLR 12.40%
6 Month MCLR 12.50%
1 Year MCLR 13.15%
   

External benchmark Rates effective from 1st October 2021 are as under -

Bench Mark Rate
External Benchmark Rate - 1* 6.17%
External Benchmark Rate - 2 # 4.76%


* 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