How do I understand MCLR in layman’s language?
MCLR stands for Marginal Cost of Funds based Lending Rate. In simple terms, it is a rate at which bank can lend and earn acceptable return on equity. MCLR differs from bank to bank and from period to period. Banks have to publish MCLR on their website by first week of every month.
Check the latest MCLR rates of various banks and compare on the same screen.
