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.
