ICICI Bank announces Marginal Cost of funds based Lending Rate (MCLR)
March 31, 2016
ICICI Bank announces the introduction of the following ICICI Bank MCLR (“I-MCLR”) benchmarks:
| Benchmark tenure | Benchmark name | Benchmark rate p.a. |
|---|---|---|
| Overnight | I-MCLR-ON | 9.00% |
| One month | I-MCLR-1M | 9.00% |
| Three months | I-MCLR-3M | 9.10% |
| Six months | I-MCLR-6M | 9.15% |
| One year | I-MCLR-1Y | 9.20% |
Interest rate on all rupee loans sanctioned and credit limits renewed w.e.f. April 1, 2016 will be priced with reference to I-MCLR benchmarks.
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About ICICI Bank Ltd: ICICI Bank Ltd (NYSE:IBN) is a leading bank with consolidated total assets of US $ 132.17 billion at March 31, 2015. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 17 countries, including India.
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