2 Marginal cost of funds is a key component in calculating MCLR. Changes in key rates like repo rate, which alter marginal cost of funds, will impact MCLR.
3 MCLR is a tenure-based benchmark, not a single rate. Banks have to publish at least five MCLR rates across the overnight, one-month, three-month, six-month and one-year tenures.
4 The final lending rates offered by the banks is arrived at by adding the `spread' to the MCLR rate.
5 All floating rate loans are linked to MCLR.
6 Existing borrowers with loans linked to base rate can continue with them till maturity or switch to the MCLR system. However, once a borrower opts for MCLR, they can't switch back.
Top 10 Tax Saver Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
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