INTEREST RATE FRAMEWORK
MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st SEPTEMBER 2020.
Tenor – wise MCLR effective from 1st September 2020 is as under
| Tenor | MCLR (%) |
| Overnight MCLR | 13.80% |
| 1 Month MCLR | 13.15% |
| 3 Month MCLR | 13.30% |
| 6 Month MCLR | 13.50% |
| 1 Year MCLR | 13.75% |
External benchmark Rates effective from 1st September 2020 are as under -
| Bench Mark | Rate |
| External Benchmark Rate - 1* | 5.85% |
| External Benchmark Rate - 2 # | 4.66% |
* Arrived based on 3 months’ average yield of 10 –year Government of India Bond.
