MCLR and RBLR Kept Unchanged from 01.10.2026; Fixed Rate Spread Revised

Lending rate update effective 01.10.2026.

Tue 29 Sep 2026

MCLR Overnight

7.85%

MCLR 1 Year

8.80%

MCLR 3 Year

8.90%

Fixed Rate Spread 1 Year

8.75%+CRP

Fixed Rate Spread 5 Year

9.60%+CRP

What was shared

The bank informed the exchanges of its lending rate position applicable from 01.10.2026. Both the Marginal Cost of Fund based Lending Rate (MCLR) and the Repo Based Lending Rate (RBLR) are kept unchanged. The Fixed Rate Spread (FRS) was changed with effect from 01.09.2026.

MCLR (effective 01.10.2026)

• Overnight: 7.85%
• 1 Month: 8.15%
• 3 Month: 8.35%
• 6 Month: 8.65%
• 1 Year: 8.80%
• 3 Year: 8.90%

Fixed Rate Spread (changed w.e.f. 01.09.2026)

• 1 Yr: 8.75%+CRP
• 2 Yr: 9.00%+CRP
• 3 Yr: 9.40%+CRP
• 5 Yr: 9.60%+CRP
• Above 5 Yr: 8.75%+Tenor Premium+CRP

How to read this

MCLR is the internal benchmark below which a bank generally cannot lend; RBLR is linked to the RBI repo rate. Loans are priced at these benchmarks plus a spread, where CRP stands for the credit risk premium charged to a borrower based on risk. Keeping MCLR and RBLR steady means pricing on those linked loans stays as it is, while fixed-rate loan pricing follows the revised Fixed Rate Spread.

Why it matters

Lending rates drive interest income and, alongside deposit costs, influence the net interest margin. Banks review and disclose these rates periodically, so such updates are regular in nature rather than one-off events.

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