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Development Credit Bank MCLR Rates, Development Credit Bank Base Rate – Jun 2017

Last Updated 13th Jun 2017

Development Credit Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Development Credit Bank ranges from 8.75% to 9.98% depending on the reset frequency of the loan. Rates are revised every month.

Development Credit Bank MCLR, Base Rate Tenure
8.75% Overnight
9.33% 1 Month
9.53% 3 Month
9.78% 6 Month
9.98% 1 Year
Base rate - 10.64% Past Trend
Development Credit Bank Interest Rates
Home Loan Interest Rates 10.48% * Floating Detail
Loan Against Property Rates 10.50% * Floating Detail
Fixed Deposit Interest Rates 4.00% to 7.25% * Detail

Past Trend MCLR Rate of Development Credit Bank

Development Credit Bank MCLR Rate History

Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
2 Year
3 Year
5 Year
04th Feb 17
26th Dec 16
25th Aug 16
04th May 16
01st Apr 16

Development Credit Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Development Credit Bank 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. Development Credit Bank has different MCLR base rates ranging from 8.75% to 9.98% for different tenures

Changes in MCLR of Development Credit Bank

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

Development Credit Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Development Credit 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, 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 Development Credit 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 Development Credit 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 10.52%. This loan will initially be priced at 11.02%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 10.27%, the loan will be priced at 10.77% for the next year

Past trend of Development Credit Bank Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
04th May 16 10.64% 0.06%
05th Apr 16 0.25%
14th Dec 15 10.70% 0.15%
29th Sep 15 0.5%
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%
20th Sep 13 0.25%
01st Sep 13 10.85% 0.35%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 10.50% 0.5%
26th Jul 11 0.5%
16th Jun 11 0.25%
01st Jun 11 10.00% 0.5%
07th May 11 9.50% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
05th Feb 11 9.00% 0.5%
25th Jan 11 0.25%
11th Dec 10 8.50% 0.25%
02nd Nov 10 0.25%
05th Oct 10 8.25% 0.5%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 7.75%

Development Credit Bank Base Rate Vs. RBI Repo Rate Trend

About Development Credit Bank

  • Development Credit Bank is a Private Bank in India with 184 branches, 328 ATM's and 3,352 employees across the country.
  • Development Credit Bank's registered office is located at 601 & 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Mumbai Maharashtra-400013 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 508 crs. and Standalone net profit of Rs. 47 crs. Development Credit Bank reported total deposits of Rs. 12,609 crs and total advances of Rs. 10,465 crs.
  • Development Credit Bank's management is led by its CEO Mr. Murali.M. Natrajan.
  • Its current Base Rate is 10.64%, which was last revised on 04th May 16.
Development Credit Bank Base Rate, PLR
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