PLR, Base Rate, MCLR and now RLLR—repo rate-linked lending rate: Here's what you should do for your EMI. Interest rate transmission: PLR, MCLR, RLLR, EBLR – Complication doesn't work. PLR, Base Rate, MCLR and now RLLR (Repo rate linked lending rate). But what comes with RLLR is the transparency, you know the repo rate and the spread, so the interest rate charged over this amount will. What is MCLR? · MCLR is lending rate calculated based on cost of raising new funds for the bank which include the cost of maintaining CRR/SLR, operating costs.