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DCB Bank MCLR Rates, DCB Bank Base Rate – Nov 2021

DCB Bank MCLR Rate

Last Updated 02nd Nov 2021

Current MCLR rate of DCB Bank ranges from 8.02% to 8.97% varying by reset frequency of the loan. DCB 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 DCB Rate Today
Overnight 8.02%
1 Month 8.02%
3 Month 8.72%
6 Month 8.97%
1 Year 8.97%
DCB Base Rate 10.64%
Apply for Home Loan @ 6.50% *

DCB Bank Interest Rates

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

Home Loan Interest Rates 8.25% * Floating Detail
Loan Against Property Rates 8.25% * Floating Detail
Business Loan Interest Rates 9.25% to 16.00% Detail
Fixed Deposit Interest Rates 4.35% to 5.95% Detail

MCLR of DCB Bank

DCB Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of DCB Bank as announced on 06 Oct 2021 are:

  • Overnight MCLR Rate is 8.02%.
  • 1 Month MCLR Rate is 8.02%.
  • 3 Month MCLR Rate is 8.72%.
  • 6 Month MCLR Rate is 8.97%.
  • 1 Year MCLR Rate is 8.97%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

DCB Bank MCLR Rate Trend

Date DCB Bank MCLR
06th Oct 21 Overnight : 8.02%
1 Month : 8.02%
3 Month : 8.72%
6 Month : 8.97%
1 Year : 8.97%
06th Sep 21 Overnight : 8.07%
1 Month : 8.07%
3 Month : 8.77%
6 Month : 9.02%
1 Year : 9.02%
05th Jun 21 Overnight : 8.12%
1 Month : 8.12%
3 Month : 8.82%
6 Month : 9.27%
1 Year : 9.37%
06th Feb 21 Overnight : 8.18%
1 Month : 8.18%
3 Month : 8.88%
6 Month : 9.33%
1 Year : 9.43%
08th Dec 20 Overnight : 8.22%
1 Month : 8.22%
3 Month : 8.92%
6 Month : 9.52%
1 Year : 9.67%
  • Effective 1st April 2016, DCB 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. DCB Bank MCLR rates for different tenors range from 8.02% to 8.97%.
  • 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, DCB 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, DCB 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%, DCB may decide to cut its 1 Year 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 DCB Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from DCB Bank.
  • MCLR rate can be revised by DCB Bank every month. However, it is not mandatory for DCB 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.

DCB Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by DCB Bank 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, personal loans are linked to short tenure 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.

Compare DCB Bank MCLR Rates with Other Banks

About DCB Bank

  • DCB Bank's registered office is located at 601 & 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Mumbai Maharashtra-400013 .
  • DCB Bank's management is led by its CEO Mr. Murali.M. Natrajan.
  • Its current Base Rate is 10.64%, which was last revised on 05th Sep 18.

FAQs

What is the MCLR of DCB Bank?

DCB Bank MCLR ranges between 8.02% to 8.97% for a tenure ranging between 1 month to 5 years.

What is the current DCB Bank MCLR rate?

Current DCB Bank, overnight tenure is 8.02%, 1 month mclr is 8.02% , three month mclr is 8.72%, six month mclr is 8.97%, one year tenure is 8.97% and two year tenure is 0.00%.

What is DCB Bank base rate?

Currently, DCB Bank offers loans at a base rate of 10.64%.


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DCB News - Nov 2021
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-02-09 : Revised MCLR for DCB Bank
    With effect from 6 February 2021, DCB Bank revised its MCLR The overnight and one-month MCLR is 8.18%. The three months and six months MCLR is 8.88% and 9.33%, respectively. The MCLR for the tenure of one year is 9.43%.
  • 2020-08-13 : DCB Bank revised MCLR
    DCB Bank revised its MCLR with effect from 12 August 2020. The overnight and one-month MCLR is 8.38%. The three months and six months MCLR is 9.08% and 9.68%, respectively. The MCLR for the tenure of one year is 9.98%.
  • 2020-04-06 : DCB Bank revised MCLR
    DCB Bank revised its MCLR with effect from 6th April 2020. The overnight and one-month MCLR is 8.55%. The three months and six months MCLR is 9.25% and 9.75%, respectively. The MCLR for the tenure of one year is 10.15%.
  • 2020-02-06 : DCB Bank revised its MCLR rate
    DCB Bank changed its lending rates. The overnight and one-month lending rate is 8.62%. MCLR for three months is 9.32% and it is 9.82% for six months. Further, MCLR for one year is 10.22%. The revised rates are in effect from 6 February 2020.
*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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