What is PLR?
devquora
Posted On: Mar 18, 2020
Expanded as Prime Lending Rate, PLR is the internal benchmark rate used for setting up the interest rate on floating-rate loans. These loans are sanctioned by Non-Banking Financial Companies (NBFC) and Housing Financial Companies (HFC). The PLR is calculated based on the average cost of funds. These financial companies price their loan at a discount on their existing PLR.
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