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Cholamandalam PLR Rates, Cholamandalam PLR – Jun 2021

Cholamandalam PLR Rate

Last Updated 12th Jun 2021

  • Current PLR rate of Cholamandalam is 15.00%.
  • Cholamandalam fixes the PLR periodically based on its internal cost of funds and the external benchmark rates.
  • Cholamandalam benchmarks its interest rates for home loan, LAP and other loans to PLR rates.
  • Check the history of PLR to know Cholamandalam PLR trends.

Cholamandalam Interest Rates

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

Loan Against Property Rates 10.00% * Floating Detail

PLR of Cholamandalam

  • Cholamandalam decides and fixes its own PLR from time to time.
  • RBI does not decide the PLR Rate of any NBFC or HFC. RBI only announces the repo rate, which influences the cost of raising new funds for the housing finance company. HFCs may or may not decide to change their PLR rate in response to changes in the repo rate.
  • Effective 1st April 2016, banks has been directed by RBI to fix their loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the banks fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. However, Housing Finance Companies and NBFCs continue to offer loans at PLR rates.
  • Cholamandalam typically offers loans benchmarked at a discount to the PLR to arrive at its lending rate.

Cholamandalam PLR Rate Trend

Date RBI Repo Rate Cholamandalam PLR Rate
04th Jun 21 4.00%
07th Apr 21 4.00%
05th Feb 21 4.00%
04th Dec 20 4.00%
09th Oct 20 4.00%
06th Aug 20 4.00%
22nd May 20 4.00%0.4%
27th Mar 20 4.40%0.75%
06th Feb 20 5.15%
05th Dec 19 5.15%
04th Oct 19 5.15%0.25%
07th Aug 19 5.40%0.35%
06th Jun 19 5.75%0.25%
04th Apr 19 6.00%0.25%
07th Feb 19 6.25%0.25%
05th Dec 18 6.50%
05th Oct 18 6.50%
01st Aug 18 6.50% 0.25%
06th Jun 18 6.25% 0.25%
05th Apr 18 6.00%
07th Feb 18 6.00%
06th Dec 17 6.00%
04th Oct 17 6.00%
02nd Aug 17 6.00%0.25%
08th Jun 17 6.25%
06th Apr 17 6.25%
08th Feb 17 6.25%
07th Dec 16 6.25%
04th Oct 16 6.25%0.25%
05th Apr 16 6.50%0.25%
  • MyLoanCare regularly tracks RBI repo rates and PLR rates of Cholamandalam to give a past trend in the change in Cholamandalam PLR rates as compared to the changes in the repo rates. Any borrower, who plans to take a PLR based loan should compare the past trends of PLR and MCLR rates of HFCs and banks to ensure that the lender they choose is prompt in revising their PLR or MCLR rates.
  • Based on an analysis and comparison of PLR rate trends of Cholamandalam Current PLR Rate of Cholamandalam is 15.00%, which was last revised on 14th Mar 19. On the other hand, the current RBI Repo Rate is 4.00% which was last revised on 04th Jun 21.
  • It is not mandatory for Cholamandalam to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

Cholamandalam Interest Rates- Benchmarked to PLR Rates

  • Cholamandalam PLR rate is notional interest rate to which the interest rate on Cholamandalam’s floating rate loans is benchmarked. Typically, all loans by Cholamandalam are priced at a discount to the Cholamandalam PLR.
  • Applicable rate of interest on all Cholamandalam floating rate loans, such as home loans, loans against property, business loans, SME loans linked to PLR will vary with changes in its PLR from time to time.
  • Sometimes, Cholamandalam may have different benchmark PLR’s by customer segment and by product. E.g., it may have one PLR for retail and another one for corporate.

Compare Cholamandalam PLR Rates with Other Banks

About Cholamandalam

  • Cholamandalam's registered office is located at .
  • Cholamandalam's management is led by its CEO .
  • Its current PLR is 15.00%, which was last revised on 14th Mar 19.

FAQs

What is the PLR of Cholamandalam?

Current Cholamandalam PLR is 15.00%, which was last revised on 14th Mar 19. Cholamandalam revises it PLR periodically as per market trends and rates.

What is Cholamandalam base rate?

Currently, Cholamandalam offers loans at a base rate of 15.00%.


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*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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