MARGINAL COST OF FUNDS BASED LENDING RATE (MCLR) WITH EFFECT FROM 1st MAY 2020.
Tenor – wise MCLR effective from 1st May 2020 is as under
| Tenor |
MCLR (%) |
| Overnight MCLR |
13.35% |
| 1 Month MCLR |
13.05% |
| 3 Month MCLR |
13.45% |
| 6 Month MCLR |
14.35% |
| 1 Year MCLR |
14.15% |
External benchmark Rates effective from 1st May 2020 are as under -
| Bench Mark |
Rate |
| External Benchmark Rate - 1 * |
6.34% |
| External Benchmark Rate - 2 # |
5.59% |
* 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.
Interest Rate Framework
