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Interest Rate Framework

Marginal Cost of funds based Lending Rate (MCLR) with effect from 1st October, 2024.

Tenure-wise MCLR effective from 1st October 2024 is as follows

Tenure
MCLR (%) October'24
Overnight MCLR
13.75%
1 Month MCLR
13.70%
3 Month MCLR
13.70%
6 Month MCLR
13.80%
1 Year MCLR
13.80%

External benchmark Rates effective from 1st October 2024 are as follows

Bench Mark
October'24
External Benchmark Rate - 1*
6.80%
External Benchmark Rate - 2#
6.89%
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.

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