Can MCLR rates be negotiated when taking a loan?

Yes, in some cases, borrowers may have the option to negotiate the MCLR rates with the lending bank. However, it's important to note that the extent of negotiation flexibility may vary among banks and depends on factors such as the borrower's creditworthiness, loan amount, and the prevailing market conditions. Generally, banks have a certain level of discretion in setting the MCLR rate based on their internal policies and assessment of the borrower's risk profile. It is advisable for borrowers to discuss their loan requirements and negotiate the interest rate and other terms with the bank to secure the most favorable terms possible.