Important Announcement for FirstRand Customers:
All FirstRand Savings, Current, Easy Banking and Non-resident Customer accounts moving to HDFC Bank
As per RBI guidelines, all Rupee loans sanctioned and credit limits renewed w.e.f. Apr 01,2016 will be priced with reference to the MCLR (other than exceptions permitted by RBI).
The Marginal Cost of Funding Rates effective Sep 6, 2021 is as follows:
| Tenor | MCLR (in %) |
|---|---|
| Overnight | 0% |
| One month | 0% |
| Three months | 0% |
| Six months | 0% |
| One year | 0% |
Please note that FirstRand Group after a strategic review of its Indian operations in April 2021, have decided to wind down its banking operations in India and surrender its banking license. Consequently, the Bank has stopped soliciting new loans/deposits since April 2021.