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Banks: MCLR Update – 28th October 2016


As a follow-up note on MCLR (Marginal Cost of funds based Lending Rate) and how it is changing the way banks lend in India, we are publishing the rates of 34 SCBs(Scheduled Commercial Banks) as on October 28, 2016. According to RBI’s mandate, Banks have to review and publish their MCLRs each month.
Please click here to check our previous update on MCLR Rates for September 2016.
We have created a MCLR Bank Base Rate Tracker, where the rates of 34 major banks are presented. The rates include:

  • Important RBI Rates (repo rate, reverse repo and MSF);
  • Base Rate;
  • MCLR (of varying tenors);
  • Deposit Rate (for amounts less than Rs. 1 cr., between 1 and 2 years)