Benchmark Rates

      
      

Benchmark Rates

Currently in use for sanction of floating rate loans from August, 2021 onwards :

New Benchmark Rate Current Rate Last Reset Date
1. RMLR 12.60% February 17, 2023
2. RCLR 14.60% February 17, 2023

*RMLR is benchmark rate used for Floating Rate Home loans offered to Salaried and Self-employed professional borrowers.

**RCLR is benchmark rate used for Floating Rate Home loans offered to Self-employed non-professional borrowers and all floating rate Non-Housing loans e.g. LAP, Home Equity, MSME Loans, Non-Residential property loans etc.

Since discontinued and linked to Loans sanctioned prior to August, 2021 :

Old Benchmark Rate Current Rate Last Reset Date
1. IMLR 12.45% February 17, 2023
2. ICLR 17.90% February 17, 2023
3. FRR 20.35% February 17, 2023
4. LFRR 24.95% February 17, 2023
5. PLR 24.40% May 10, 2022

Note :

IMLR & ICLR :- Company has discontinued sanctioning of fresh Loans quoting the benchmark IMLR & ICLR from Aug, 2021. This rate is only applicable to old loans sanctioned at IMLR & ICLR respectively.

FRR :- Company has discontinued sanctioning of fresh Loans quoting the benchmark FRR from January, 2017. This rate is only applicable to old loans sanctioned at FRR.

LFRR :- Company has discontinued sanctioning of fresh Loans quoting the benchmark LFRR from February, 2018. This rate is only applicable to old loans sanctioned at LFRR.

PLR :- Company has discontinued sanctioning of fresh Loans quoting the benchmark PLR from August, 2011. This rate is only applicable to old loans sanctioned at PLR.

The customer with their loan linked to any of these old benchmark rates have the option to switch to new benchmark rates through our Rate Switch Facility. For more details please refer the ROI switch policy at https://www.sammaancapital.com/roi-switch-policy