Bank of Baroda MCLR Rates, Bank of Baroda Base Rate – Feb 2017

Bank of Baroda MCLR Rate – Current Rate, Past Trend

Last Updated 20th Feb 2017
8th Feb 2017 – RBI keeps repo rate and other policy interest rates unchanged
Bank of Baroda MCLR, Base Rate Tenure
8.10% Overnight
8.15% 1 Month
8.20% 3 Month
8.30% 6 Month
8.35% 1 Year
8.50% 3 Year
8.65% 5 Year
Base rate - 9.60% Past Trend
Current MCLR of Bank of Baroda ranges from 8.10% to 8.65% depending on the reset frequency of the loan. Rates are revised every month.
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Bank of Baroda Interest Rates
Home Loan Interest Rates 8.35% * Floating Detail
Personal Loan Interest Rates 11.60% * Detail
Fixed Deposit Interest Rates 4.50% to 7.00% * Detail

Past Trend MCLR Rate of Bank of Baroda

Bank of Baroda MCLR 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
07th Feb 17
8.10%
8.15%
8.20%
8.30%
8.35%
-
8.50%
8.65%
07th Jan 17
8.10%
8.15%
8.20%
8.30%
8.35%
8.50%
8.65%
-
07th Dec 16
8.80%
8.85%
8.95%
9.00%
9.05%
-
9.05%
9.25%
07th Nov 16
9.00%
9.05%
9.15%
9.20%
9.25%
-
9.25%
9.45%
07th Oct 16
9.10%
9.15%
9.25%
9.30%
9.35%
-
9.35%
9.55%
07th Sep 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.40%
9.60%
07th Aug 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.40%
9.60%
07th Jun 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.40%
9.60%
07th May 16
9.05%
9.10%
9.20%
9.25%
9.30%
-
9.30%
9.50%
01st Apr 16
9.00%
9.00%
9.05%
9.10%
9.30%
-
9.35%
-

Bank of Baroda MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Bank of Baroda decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR 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. Bank of Baroda has different MCLR base rates ranging from 8.10% to 8.65% for different tenures

Changes in MCLR of Bank of Baroda

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

Bank of Baroda home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Bank of Baroda is benchmarked to its MCLR 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 Bank of Baroda 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 Bank of Baroda will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.30%. This loan will initially be priced at 9.8%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.05%, the loan will be priced at 9.55% for the next year

Past trend of Bank of Baroda Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
01st Jul 16 9.60% decreased by 0.05%
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.65% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
13th Jul 15 9.90% decreased by 0.1%
02nd Jun 15: 0.25% repo cut by RBI
06th May 15 10.00% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
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
09th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% decreased by 0.25%
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 0.5%
26th Jul 11: 0.5% repo hike by RBI
12th Jul 11 10.25% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
04th Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
05th Oct 10 8.50% increased 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%

Bank of Baroda Base Rate Vs. RBI Repo Rate Trend

About Bank of Baroda

  • Bank of Baroda is a Public Sector Bank in India with 5,190 branches, 8,030 ATM's and 49,378 employees across the country.
  • Bank of Baroda's registered office is located at Baroda House, P.B.No. 506 Mandvi Vadodra, Gujarat-390006 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 3,172 crs. and Standalone net profit of Rs. 598 crs. Bank of Baroda reported total deposits of Rs. 617,560 crs and total advances of Rs. 428,065 crs.
  • Bank of Baroda's management is led by its CEO Mr. P.S. Jayakumar.
  • Its current Base Rate is 9.60%, which was last revised on 01st Jul 16.
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News - Feb 2017
14th Feb 17 Bank of Baroda plans to put in place a 2000 strong sales forces to push retail loans
Bank of Baroda is planning to put in place a 2000 dedicated and strong sales force to push its retail loans. The existing retail loan portfolio of the bank stands at 19 percent of its total domestic advances. The bank intends to focus on select centres in metros at the initial stage, gradually expanding to other centres.
11th Feb 17 Bank of Baroda registers net profit of Rs. 253 crore in third quarter of FY17
Bank of Baroda has reported net profit of Rs. 253 crore during third quarter of FY17 against a loss of Rs. 3,342 crore during the same quarter of FY16. The increase in profits is contributed by a healthy growth of 15.85 percent in net interest income at Rs. 3,134 crore during the quarter as compared to Rs. 2,705 crore a year ago.
12th Jan 17 Banks will offer CIBIL Score based home loan interest rates
Banks have introduced risk based pricing for new home loan borrowers. Banks will now consider CIBIL Score of the borrowers to offer the best home loan interest rate. Bank of Baroda has become the first bank to introduce CIBIL score based pricing to its home loan borrowers. Borrowers with a CIBIL score of above 760 are eligible to get home loan at rate of 8.35 percent, while those with a CIBIL Score of below 724 will have to pay an interest rate of 9.35 percent.
10th Jan 17 Bank of Baroda reduces home loan rate to 8.35 percent
Bank of Baroda has reduced its home loan interest rate by 70 basis points. The revised home loan rate for loan amount up to Rs. 50 lakhs now stands at 8.35 percent as compared to 9.05 percent earlier. The rates are effective from 7th January, 2017.
07th Jan 17 Bank of Baroda cuts MCLR by up to 70 basis points
Bank of Baroda has reduced its overnight and six months marginal cost of lending rate to 8.10 and 8.30 percent as compared to 8.80 and 9 percent respectively. The revised one year and three year MCLR is now 8.35 and 8.50 percent. Similarly, the bank has reduced its three year MCLR by 60 basis points to 8.65 percent. The rates are effective from 7th January, 2017.
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