MCLR/Base Rate/Benchmark Prime Lending Rate

Marginal Cost of funds based Lending Rates (MCLR)

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 shall be priced with reference to the MCLR, which will be the internal benchmark for such purposes.

Effective MCLR as of 9th October 2017

Base Rate

Base Rate of the Bank is 8.45% p.a. with effect from October 6, 2017

The Base Rate has been arrived at considering the simple average of 181-210 days and 365-375 days tenors Term Deposit rate blended with Current and Savings Account (CASA) cost, and other elements that are common across all categories of borrowers. For customers whose interest rate is linked to Base Rate, any revision in the Base Rate will impact the interest rate.

The margin between your variable rate of interest and base rate will be determined by factors such as credit grading of the customer, quality of the collateral, risk profile of the industry/sector, account behaviour / conduct, product level allocable costs etc. and changes in these factors may result in upward or downward revision of the margin.

Mortgage Variable Reference Rate

The interest rate on your floating rate Mortgage loan is linked to the Mortgage Variable Reference Rate (MVRR) and any revision in this rate would impact your interest rate. The MVRR, effective October 6, 2017 stands as:

  • Home Loan MVRR is 18.45%
  • Loan Against Property MVRR is 19.70%
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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.


Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.