City Union Bank Base Rate, City Union Bank MCLR Base Rate Past Trend

Current City Union Bank MCLR Base Rate

Last Updated 29th 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 CRR at 4%. 100% CRR on fresh deposits withdrawn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 9.50%
1 Month 9.55%
3 Month 9.60%
6 Month 9.65%
1 Year 9.75%
Current MCLR base rate of City Union Bank ranges from 9.50% to 9.75% depending on the reset frequency of the loan. Rates are revised every month.
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City Union Bank Interest Rates
Home Loan Interest Rates 10.65% * Floating Detail
Loan Against Property Rates 14.75% * Floating Detail
Fixed Deposit Interest Rates 6.25% to 7.10% * Detail

Past Trend Base Rate of City Union Bank

City Union 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
05th Sep 16
9.50%
9.55%
9.60%
9.65%
9.75%
-
-
-
01st Jul 16
9.70%
9.75%
9.85%
9.90%
10.00%
-
-
-
01st Apr 16
9.70%
9.80%
9.85%
9.90%
10.00%
-
-
-

City Union Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, City Union 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. City Union Bank has different MCLR base rates ranging from 9.50% to 9.75% for different tenures

Changes in MCLR Base rate of City Union Bank

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

City Union Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by City Union 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 City Union 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 City Union 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 10.00%. This loan will initially be priced at 10.5%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.75%, the loan will be priced at 10.25% for the next year

Past trend of City Union 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
01st Nov 15 10.50% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
01st Sep 15 10.75% decreased by 0.25%
02nd Jun 15: 0.25% repo cut by RBI
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
01st Oct 13 11.00% increased by 0.25%
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
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
01st Dec 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.50% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
01st May 11 9.75% increased by 0.5%
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.25% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Nov 10 8.75% increased by 0.25%
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 8.50%

City Union Bank Base Rate Vs. RBI Repo Rate Trend

About City Union Bank

  • City Union Bank is a Private Bank in India with 478 branches, 1,086 ATM's and 4,364 employees across the country.
  • City Union Bank's registered office is located at "149, T.S.R. (Big) Street Kumbakonam, Tamil Nadu-612001 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 275 crs. and Standalone net profit of Rs. 347 crs. City Union Bank reported total deposits of Rs. 24,075 crs and total advances of Rs. 17,966 crs.
  • City Union Bank's management is led by its CEO Dr. N. Kamakodi.
  • Highest fixed deposit interest offered by City Union Bank is 7.10% per annum on deposits.
  • Its current Base Rate is 10.50%, which was last revised on 01st Nov 15.
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News - Dec 2016
21st Nov 16 City Union Bank net profit increases by 15 percent
City Union Bank reported an increase of 15 percent in its net profit at Rs. 123 crores in July to September quarter as compared to Rs. 107 crores during same period last year. Net interest income during the period rose to Rs. 301 crores from Rs. 240 crores in same period of last year.
01st Sep 16 City Union Bank has reduced its MCLR from 1st September, 2016
City Union Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st September, 2016. The 3month, 6 month and 1 year MCLR has been reduced by 25 basis points to 9.6, 9.65 and 9.75 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced 20 basis points to 9.5 and 9.55 percent respectively. For borrowers who have taken a home loan from City Union Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
14th Aug 16 City Union Bank posts 10.73 per cent growth in profits
City Union Bank has reported an increase of 10.73 per cent in the net profit to Rs. 124 crore in the June quarter of FY17 from Rs. 112 crore in the same period of previous fiscal. Total income of the bank increased to Rs. 883.3 crore in first quarter of FY17 from Rs. 810.93 crore in the same period a year earlier. Gross NPAs and Net NPAs of the bank as a percentage stood at 2.62 per cent and 1.59 per cent in the June quarter from 2.01 per cent and 1.32 per cent in the corresponding period of FY16.
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