Marginal Cost of fund based Lending Rate (MCLR)

Marginal Cost of fund based Lending Rate – MCLR (w.e.f 07.09.2019) are listed below:

Type of MCLR MCLR Rate Period of applicability
Overnight MCLR 8.35% per annum 1 day and above and less than 1 month
One-Month MCLR 8.35% per annum 1 month and above and less than 3 months
Three-Month MCLR 8.60% per annum 3 months and above and less than 6 months
Six-Month MCLR 9.15% per annum 6 months and above and less than 1 year
One-Year MCLR 9.45% per annum 1 year and above
  • The above MCLRs shall be applicable only to new loans / advances sanctioned / first disbursement made on or after 07th September 2019 and those credit facilities renewed / reviewed / reset undertaken and also where switchover of MCLR linked interest rate is permitted at the option of the borrower on or after 07th September 2019.

  • All rupee loans sanctioned and credit limits sanctioned / renewed w.e.f 1st April 2016 will be priced with reference to the MCLR only.

  • There will be no lending below the MCLR of a particular maturity for all loans linked to that benchmark.

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