Know about RLLR
The RLLR has been changed from 6.65% to 6.80% (Repo rate (4.00%) + Mark-up (2.80%)) w.e.f. 01.09.2020.
All new floating rate Personal or Retail loans (housing, auto etc.) and floating rate loans to Micro, Small and Medium Enterprise loans w.e.f 01st September 2020 will have the Mark-up of 2.80% and the same will be reset after 3 years from the date of sanction.
However, in case of existing borrowers, loans (linked to RLLR) sanctioned between 01st October 2019 and 31st August 2020 will continue with the existing Mark-up of 2.65% which shall be reset after a period of three years from the date of sanction.