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Bandhan Bank MCLR Rates, Bandhan Bank Base Rate – Jul 2021

Bandhan Bank MCLR Rate

Last Updated 16th Jul 2021

Current MCLR rate of Bandhan Bank ranges from 8.69% to 10.93% varying by reset frequency of the loan. Bandhan Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR Bandhan Rate Today
Overnight 8.69%
1 Month 8.74%
3 Month 8.84%
6 Month 8.97%
1 Year 9.25%
2 Year 10.38%
3 Year 10.93%
Bandhan Base Rate 12.00%
Apply for Home Loan @ 6.65% *

Bandhan Bank Interest Rates

Bandhan Bank offers the following loans to its customer on these rates currently:

Fixed Deposit Interest Rates 3.00% to 5.50% Detail
RD Interest Rates 5.40% to 6.75% Detail

MCLR of Bandhan Bank

Bandhan Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Bandhan Bank as announced on 30 Jun 2021 are:

  • Overnight MCLR Rate is 8.69%.
  • 1 Month MCLR Rate is 8.74%.
  • 3 Month MCLR Rate is 8.84%.
  • 6 Month MCLR Rate is 8.97%.
  • 1 Year MCLR Rate is 9.25%.
  • 2 Year MCLR Rate is 10.38%.
  • 3 Year MCLR Rate is 10.93%.
  • 5 Year MCLR Rate is 0.00%.

Bandhan Bank MCLR Rate Trend

Date Bandhan Bank MCLR
30th Jun 21 Overnight : 8.69%
1 Month : 8.74%
3 Month : 8.84%
6 Month : 8.97%
1 Year : 9.25%
2 Year : 10.38%
3 Year : 10.93%
16th Apr 21 Overnight : 7.00%
1 Month : 7.15%
3 Month : 7.25%
6 Month : 7.45%
1 Year : 7.60%
31st Mar 21 Overnight : 8.82%
1 Month : 8.86%
3 Month : 8.92%
6 Month : 9.02%
1 Year : 9.25%
2 Year : 10.08%
3 Year : 11.07%
31st Mar 21 Overnight : 8.82%
1 Month : 8.86%
3 Month : 8.92%
6 Month : 9.02%
1 Year : 9.25%
2 Year : 10.08%
3 Year : 11.07%
31st Jan 21 Overnight : 8.59%
1 Month : 8.63%
3 Month : 8.70%
6 Month : 8.78%
1 Year : 9.03%
2 Year : 10.03%
3 Year : 10.54%
31st Dec 20 Overnight : 8.78%
1 Month : 8.81%
3 Month : 8.88%
6 Month : 8.98%
1 Year : 9.25%
2 Year : 10.09%
3 Year : 10.61%
30th Sep 20 Overnight : 8.94%
1 Month : 8.98%
3 Month : 9.07%
6 Month : 9.19%
1 Year : 9.47%
2 Year : 10.50%
3 Year : 11.09%
07th Sep 20 Overnight : 8.38%
1 Month : 8.42%
3 Month : 8.51%
6 Month : 8.65%
1 Year : 8.96%
2 Year : 10.04%
3 Year : 10.61%
07th Aug 20 Overnight : 8.97%
1 Month : 9.01%
3 Month : 9.10%
6 Month : 9.25%
1 Year : 9.42%
2 Year : 10.21%
3 Year : 10.69%
  • Effective 1st April 2016, Bandhan Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Bandhan Bank MCLR rates for different tenors range from 8.69% to 10.93%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Bandhan Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Bandhan Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Bandhan may decide to cut its MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Bandhan Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Bandhan Bank.
  • MCLR rate can be revised by Bandhan Bank every month. However, it is not mandatory for Bandhan Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

Compare Bandhan Bank MCLR Rates with Other Banks

About Bandhan Bank

  • Bandhan Bank's registered office is located at DN 32, Sector V, Salt Lake City, Kolkata- 700091.
  • Bandhan Bank's management is led by its CEO Mr. Chandra Shekhar Ghosh.
  • Its current Base Rate is 12.00%, which was last revised on 23rd Aug 15.

FAQs

What is the MCLR of Bandhan Bank?

Bandhan Bank MCLR ranges between 8.69% to 10.93% for a tenure ranging between 1 month to 5 years.

What is the current Bandhan Bank MCLR rate?

Current Bandhan Bank, overnight tenure is 8.69%, 1 month mclr is 8.74% , three month mclr is 8.84%, six month mclr is 8.97%, one year tenure is 9.25% and two year tenure is 10.38%.

What is Bandhan Bank base rate?

Currently, Bandhan Bank offers loans at a base rate of 12.00%.


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Bandhan News - Jul 2021
  • 2021-05-20 : Bandhan Bank revised its Marginal cost of lending rates
    Bandhan Bank revised its MCLR for the month of May. New MCLR for overnight tenure is 8.55%, and for a one-month period, the rate stands at 8.58%. For the tenure of 3 months, MCLR is 8.64%, MCLR for six months is 8.74%, and for one year, it is 9.01%. The MCLR rates for two years and three years are 9.82% and 10.82%, respectively.The revised rates will impact MCLR based home loans.
  • 2021-02-01 : Revised MCLR for Bandhan Bank
    Bandhan Bank revised its lending rates with effect from 31 January 2021. New MCLR for overnight tenure is 8.59%, and for a one-month period rate stand at 8.63%. For the tenure of 3 months, MCLR is 8.70%, MCLR for six months is 8.78%, and for one year, it is 9.03%. The MCLR rates for two years and three years are 10.03% and 10.54%, respectively.
  • 2020-09-17 : Bandhan Bank changed MCLR
    With effect from 7 September, Bandhan Bank revised its lending rates. New MCLR for overnight tenure is 8.38%, and for one-month period rate stand at 8.42%. For the tenure of 3 months, MCLR is 8.51%, MCLR for six months is 8.65%, and for one year, it is 8.96%. The MCLR rates for two years and three years are 10.04% and 10.61 %, respectively.
  • 2020-07-08 : Bandhan Bank revised Marginal cost of lending rates
    Bandhan Bank has revised its lending rates for this month, w.e.f. 7 July 2020. New MCLR for overnight tenure is 9.18%, and for one-month period rates stand at 9.22%. For the tenure of 3 months, MCLR is 9.32%, MCLR for six months is 9.46%, and for one year, it is 9.70%. The MCLR rates for two years and three years are 10.65% and 11.18 %, respectively.
  • 2020-05-12 : Bandhan Bank revised MCLR
    Bandhan Bank has revised its lending rates for this month, w.e.f. 11 May 2020. New MCLR for overnight tenure is 9.06%, and for one-month period rates stand at 9.10%. For the tenure of 3 months, MCLR is 9.18%, MCLR for six months is 9.30%, and for one year, it is 9.50%. The MCLR rates for two years and three years are 10.28% and 10.71 %, respectively.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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