Mumbai, January 2, 2017: Kotak Mahindra Bank revised the Marginal Cost of Funds based Lending Rate (K-MCLR) downwards by up to 45 basis points (bps) with effect from (w.e.f) January 1, 2017 for various tenors as given below:
|
Tenor
|
Benchmark
|
Existing Rate
(% p.a.)
|
Rate w.e.f 01/01/17
(% p.a.)
|
|
Overnight
|
K-MCLR O/N
|
8.60
|
8.20
|
|
One Month
|
K-MCLR 1M
|
8.70
|
8.25
|
|
Three Month
|
K-MCLR 3M
|
8.85
|
8.40
|
|
Six Month
|
K-MCLR 6M
|
9.05
|
8.65
|
|
One Year
|
K-MCLR 1Y
|
9.20
|
9.00
|
|
Two year
|
K-MCLR 2Y
|
9.25
|
9.00
|
|
Three year
|
K-MCLR 3Y
|
9.25
|
9.00
|
The Bank will review and publish the K-MCLRs on a monthly basis.