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INTEREST RATE FRAMEWORK

MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st March, 2023.

Tenor – wise MCLR effective from 1st March 2023 is as under

Tenor MCLR (%) Mar'23
Overnight MCLR 12.75%
1 Month MCLR 13.00%
3 Month MCLR 13.55%
6 Month MCLR 13.90%
1 Year MCLR 14.05%

External benchmark Rates effective from 1st March 2023 are as under -

Bench Mark Mar 23
External Benchmark Rate - 1* 7.12%
External Benchmark Rate - 2 # 7.32%
Repo Rate 6.50%


* 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.