Manipur Rural Bank is financing only in Manipur to empower financial strength of our state. It is our objective to accelerate sustainable, equitable and inclusive value addition to rural economy through effective credit support, development and other initiatives. With our complete effort we have been extending our helping hand to empower the strength of rural economy. Manipur Rural Bank has the following loan and Advance schemes for our public.
- Kisan Credit Card (KCC)
- Overdraft to Farmers
- Solar Home Lighting
- Weaver Credit Card (WCC)
- Loan under Urban Self Employment Program
- Loan under Venture Capital Fund of NABARD/Diary/Piggery/Fishery etc
- Farm Mechanisation
- Cottage, Tiny and Small Industries
- Business Loan
- Loan to Transport Operators
- Housing Loan
- Professional and Self Employed
- Personal Loan & Car Loan
- Consumer Durable Loan
- Loan against IVP, KVP, LICI policy etc
Keeping in view of the present market condition as well as revisions on interest rates by Sponsor Bank, Manipur Rural Bank has decided to revise the rate of interest on loans and advances linked with MCLR w.e.f. 29-04-2022.
| Sl.No. | Applicable MCLR Benchmark | Applicable MCLR |
|---|---|---|
| 1. | Overnight MCLR-i.e. MCLR-D | 8.30% |
| 2. | 1 month MCLR-i.e. MCLR-M | 8.35% |
| 3. | 3 months MCLR-i.e. MCLR-Q | 8.40% |
| 4. | 6 months MCLR-i.e. MCLR-H | 8.45% |
| 5. | 1 year MCLR-i.e. MCLR-Y | 8.50% |
Applicable MCLR for Loan Tenors
Under MCLR regime, the spread includes (i) business strategy premium and (ii) credit risk premium. The spread specified for one year MCLR benchmark i.e. MCLR-Y will also be applicable to other MCLR benchmark as per the Risk Rating Any concession in the interest rate under MCLR system can be given by the competent authority as per guidelines in Bank’s extant Lending Policy.
All the branches are advised to take note of the above revised structure of interest rate on loans and advances and act accordingly.