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INTEREST RATE FRAMEWORK

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

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

Tenor MCLR (%)
Overnight MCLR 12.00%
1 Month MCLR 11.75%
3 Month MCLR 12.00%
6 Month MCLR 12.05%
1 Year MCLR 12.90%

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

Bench Mark Rate
External Benchmark Rate - 1* 6.05%
External Benchmark Rate - 2 # 5.01%


* 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