---
title: "Repo Linked Lending Rate (RLLR): Meaning | Model Diplomat"
description: "The Repo Linked Lending Rate (RLLR) links bank loan rates to the RBI's repo rate, ensuring quicker policy rate transmission for borrowers in India."
url: "https://modeldiplomat.com/learn/glossary/repo-linked-lending-rate"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Repo Linked Lending Rate is a bank lending benchmark in India that is directly tied to the Reserve Bank of India's repo rate, ensuring faster transmission of policy rate changes to borrowers.
- How does the RLLR differ from the MCLR?
- Is the RLLR the same as the External Benchmark Lending Rate (EBLR)?
- How often does an RLLR-linked loan rate reset?
- Which loans are required to be linked to an external benchmark like the RLLR?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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## Timeline

1. 4 September 2019

   Its legal foundation rests in the RBI circular of (RBI/2019-20/45, DBR.DIR.BC.No.14/13.03.00/2019-20), which required all scheduled commercial banks—excludi…

2. 1 October 2019

   Its legal foundation rests in the RBI circular of 4 September 2019 (RBI/2019-20/45, DBR.DIR.BC.No.14/13.03.00/2019-20), which required all scheduled commerci…

3. 1 April 2020

   Borrowers on the older Marginal Cost of Funds based Lending Rate (MCLR) or the Base Rate were permitted to switch to the external benchmark regime, subject t…

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Example

In October 2019, the State Bank of India linked its retail floating-rate home loans to the RBI repo rate via an External Benchmark Lending Rate, complying with the RBI mandate effective 1 October 2019.

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