ICICI Bank announces marginal cost of funds based lending rate

01 April, Mumbai

Private sector lender, ICICI Bank announced the introduction of the following ICICI Bank Marginal Cost of funds based Lending Rate (MCLR)Benchmark tenure

Benchmark name Benchmark rate p.a. Overnight
I-MCLR-ON
9.00 percent One month
I-MCLR-1M
9.00 percent Three months
I-MCLR-3M
9.10 percent Six months
I-MCLR-6M
9.15 percent one year
I-MCLR-1y

9.20 percent Interest rate on all rupee loans sanctioned and credit limits renewed with effect from April 1, 2016 will be priced with reference to I-MCLR benchmarks., bank release said.