INR Interest Rate Curves

The interest rate curves summarised on this page have been developed by Clearing Corporation of India Ltd (CCIL), based on the Government of India bonds traded on the National Stock Exchange (NSE). CCIL-NSE interest rate curves are one of the most widely used for financial analyses related to the Indian market.

Discount rate for actuarial valuation

Interest rates described on this page can be used in setting the discount rate for actuarial valuation of employee benefit schemes, including AS 15 and Ind AS 19. More details on how discount rate is selected for actuarial valuations can be found in here. The discount rate under ASC 715 can also be derived in a similar manner, but some companies choose to add a credit spread to these interest rates.

Interest rates below can also used in the valuation of insurance liabilities denominated in Indian Rupees, and a wide range of other valuations.

The source file, and details of methodology used in construction of these curves, are all available on CCIL website.

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