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BNP MCLR Rates, BNP Base Rate – Sep 2017

Last Updated 06th Sep 2017

BNP MCLR Rate – Current Rate, Past Trend

Current MCLR of BNP ranges from 7.40% to 8.40% depending on the reset frequency of the loan. Rates are revised every month.

BNP MCLR, Base Rate Tenure
7.40% Overnight
7.40% 1 Month
7.40% 3 Month
7.80% 6 Month
8.15% 1 Year
8.15% 2 Year
8.40% 3 Year
Base rate - 8.90% Past Trend
BNP Interest Rates

Past Trend MCLR Rate of BNP

BNP 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
01st Sep 17
7.40%
7.40%
7.40%
7.80%
8.15%
8.15%
8.40%
-
01st Aug 17
7.55%
7.55%
7.55%
7.95%
8.30%
8.30%
8.55%
-
01st Jul 17
7.95%
7.95%
7.95%
8.10%
8.45%
8.45%
8.70%
-
01st Jun 17
7.75%
7.75%
7.75%
8.20%
8.45%
8.45%
8.70%
-
01st May 17
7.50%
7.50%
7.50%
8.45%
8.45%
8.45%
8.70%
-
01st Apr 17
7.65%
7.65%
7.65%
8.45%
8.45%
8.45%
8.70%
-
01st Mar 17
7.70%
7.70%
7.70%
8.45%
8.45%
8.45%
8.70%
-
01st Feb 17
8.05%
8.05%
8.05%
8.45%
8.45%
8.45%
8.70%
-
01st Jan 17
8.10%
8.10%
8.10%
8.50%
8.60%
8.70%
8.75%
-
01st Dec 16
8.00%
8.00%
8.00%
8.50%
8.60%
8.70%
8.75%
-
01st Nov 16
8.10%
8.10%
8.10%
8.50%
8.75%
9.00%
9.10%
-
01st Oct 16
8.10%
8.10%
8.10%
8.50%
8.75%
9.00%
9.10%
-
01st Jun 16
8.30%
8.30%
8.30%
8.30%
8.90%
9.00%
9.10%
-

BNP MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, BNP 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. BNP has different MCLR base rates ranging from 7.40% to 8.40% for different tenures

Changes in MCLR of BNP

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

BNP home loan interest rate and MCLR

  • Every floating rate loan sanctioned by BNP 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 BNP 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 BNP will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 8.90%. This loan will initially be priced at 9.4%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.65%, the loan will be priced at 9.15% for the next year

Past trend of BNP Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
02nd Aug 17 0.25%
08th Jun 17 0%
06th Apr 17 0%
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
29th Sep 15 0.5%
10th Sep 15 8.90% 0.6%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
23rd Sep 13 9.50% 0.5%
20th Sep 13 0.25%
03rd May 13 0.25%
26th Mar 13 9.00% 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
22nd Oct 11 9.25% 0.25%
10th Oct 11 9.50% 0.25%
16th Sep 11 0.25%
08th Aug 11 9.25% 0.5%
26th Jul 11 0.5%
16th Jun 11 0.25%
16th May 11 8.75% 0.5%
03rd May 11 0.5%
25th Apr 11 8.25% 0.75%
17th Mar 11 0.25%
01st Feb 11 7.50% 0.25%
25th Jan 11 0.25%
02nd Nov 10 0.25%
01st Nov 10 7.25% 0.5%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 6.75%

BNP Base Rate Vs. RBI Repo Rate Trend

About BNP

  • BNP's registered office is located at BNP Paribas House, 1, North Avenue, Maker Maxity, Bandra Kurla Complex, Bandra (E) Mumbai, Maharashtra, India, 400051.
  • BNP's management is led by its CEO Mr. Sharad Sharma.
  • Its current Base Rate is 8.90%, which was last revised on 10th Sep 15.
Bnp Base Rate, PLR
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