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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.

# Arrived based on 3 months’ average yield of 3 – year Government of India Bond