Allahabad Bank Base Rate, Allahabad Bank MCLR Base Rate Past Trend

Current Allahabad Bank MCLR Base Rate

Last Updated 28th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 9.15%
1 Month 9.20%
3 Month 9.25%
6 Month 9.35%
1 Year 9.45%
Current MCLR base rate of Allahabad Bank ranges from 9.15% to 9.45% depending on the reset frequency of the loan. Rates are revised every month.
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Allahabad Bank Interest Rates
Home Loan Interest Rates 9.45% * Floating Detail
Loan Against Property Rates 14.95% * Floating Detail
Personal Loan Interest Rates 13.45% * Detail
Fixed Deposit Interest Rates 4.50% to 7.00% * Detail

Past Trend Base Rate of Allahabad Bank

Allahabad Bank base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
10th Oct 16
9.15%
9.20%
9.25%
9.35%
9.45%
-
-
-
11th Jul 16
9.25%
9.30%
9.35%
9.45%
9.55%
-
-
-
01st Apr 16
9.30%
9.35%
9.40%
9.50%
9.60%
-
-
-
30th Nov -1
9.15%
9.00%
-
-
-
-
-
-

Allahabad Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Allahabad Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Allahabad Bank has different MCLR base rates ranging from 9.15% to 9.45% for different tenures

Changes in MCLR Base rate of Allahabad Bank

  • MCLR rate can be revised by Allahabad Bank every month
  • Note that it is not mandatory for Allahabad Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Allahabad Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Allahabad Bank is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Allahabad Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Allahabad Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 0.00%. This loan will initially be priced at 0.5%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is -0.25%, the loan will be priced at 0.25% for the next year

Past trend of Allahabad Bank Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.70% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
02nd Jun 15 9.95% decreased by 0.3%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
04th Mar 14 10.25% increased by 2.25%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
18th Feb 13 10.20%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% increased by 0.3%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
15th Jul 11 10.25% decreased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 10.00% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Feb 11 9.50% decreased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
14th Dec 10 9.00% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% decreased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.00% decreased by 0.5%

Allahabad Bank Base Rate Vs. RBI Repo Rate Trend

About Allahabad Bank

  • Allahabad Bank is a Public Sector Bank in India with 3,107 branches, 1,168 ATM's across the country.
  • Allahabad Bank's registered office is located at 2, N.S.Road, Kolkata-700001 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 6,178 crs. and Standalone net profit of Rs. 621 crs. Allahabad Bank reported total deposits of Rs. 193,424 crs and total advances of Rs. 153,095 crs.
  • Allahabad Bank's management is led by its CEO Mr. Rakesh Sethi.
  • Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.
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News - Dec 2016
06th Jun 16 Allahabad Bank gains most from revaluation of real estate assets
As per the latest results, Allahabad Bank has turned out to be the biggest gainer with addition of around Rs 1802 crore from its revalued commercial and residential real estate investments. The bank owns several expansive properties in the central business districts of Kolkata. UCO Bank credited nearly Rs 1,737 crore as gains from revaluation of real estate investments. In the case of United Bank of India, the revaluation gain was vetted at Rs 347 crore at the end of FY16.
13th May 16 Allahabad Bank posts Q4FY16 net loss of Rs 581 cr
As per the results of Q4FY16, Allahabad Bank reported a net loss of Rs.581.13 Crore as the bank had to provide for higher provisions for bad loans and taxes. The loss was registered due to a tax write-back of Rs.1,032.77 crore in the March quarter, compared with a tax expense of Rs.175.05 crore in the year ago period. Asset Quality showed signs of deterioration during the March quarter as Gross NPAs were 9.76 percent as on quarter ending 31st March 2016 as compared with 6.4 percent in the previous quarter. Net NPAs were at 6.76 percent in the March quarter against 4.23 percent in the previous quarter and 3.99 percent in the same quarter last year. Provisions and contingencies also increased by 294 percent to Rs.2,487.15 crore when compared on yoy basis.The Net interest income (NII) declined by 12.5 percent to Rs.1,273.70 Crore when compared on a yoy basis. Non Interest Income also reduced by 2 percent to Rs.554.73 Crore.
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