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Dhan Laxmi Bank MCLR Rates, Dhan Laxmi Bank Base Rate – Jul 2021

Dhan Laxmi Bank MCLR Rate

Last Updated 25th Jun 2021

Current MCLR rate of Dhan Laxmi Bank ranges from 7.30% to 8.70% varying by reset frequency of the loan. Dhan Laxmi 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 Dhan Laxmi Rate Today
Overnight 7.30%
1 Month 7.30%
3 Month 8.20%
6 Month 8.60%
1 Year 8.70%
Dhan Laxmi Base Rate 9.80%
Apply for Home Loan @ 6.65% *

Dhan Laxmi Bank Interest Rates

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

Home Loan Interest Rates 7.85% * Floating Detail
Loan Against Property Rates 10.60% * Floating Detail
Business Loan Interest Rates 10.50% to 13.10% Detail
Fixed Deposit Interest Rates 3.50% to 5.60% Detail

MCLR of Dhan Laxmi Bank

Dhan Laxmi Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Dhan Laxmi Bank as announced on 01 Jun 2021 are:

  • Overnight MCLR Rate is 7.30%.
  • 1 Month MCLR Rate is 7.30%.
  • 3 Month MCLR Rate is 8.20%.
  • 6 Month MCLR Rate is 8.60%.
  • 1 Year MCLR Rate is 8.70%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

Dhan Laxmi Bank MCLR Rate Trend

Date Dhan Laxmi Bank MCLR
01st Jun 21 Overnight : 7.30%
1 Month : 7.30%
3 Month : 8.20%
6 Month : 8.60%
1 Year : 8.70%
01st Feb 21 Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.40%
6 Month : 8.80%
1 Year : 8.90%
06th Jan 21 Overnight : 7.30%
1 Month : 7.30%
3 Month : 8.20%
6 Month : 8.60%
1 Year : 8.70%
01st Jan 21 Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.40%
6 Month : 8.80%
1 Year : 8.90%
01st Dec 20 Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.40%
6 Month : 8.80%
1 Year : 8.90%
01st Nov 20 Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.40%
6 Month : 8.80%
1 Year : 8.90%
01st Oct 20 Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.40%
6 Month : 8.80%
1 Year : 8.90%
01st Sep 20 Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.40%
6 Month : 8.90%
1 Year : 8.90%
01st Aug 20 Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.40%
6 Month : 8.90%
1 Year : 8.90%
  • Effective 1st April 2016, Dhan Laxmi 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. Dhan Laxmi Bank MCLR rates for different tenors range from 7.30% to 8.70%.
  • 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, Dhan Laxmi 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, Dhan Laxmi 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%, Dhan Laxmi may decide to cut its 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 Dhan Laxmi Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Dhan Laxmi Bank.
  • MCLR rate can be revised by Dhan Laxmi Bank every month. However, it is not mandatory for Dhan Laxmi 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.

Dhan Laxmi Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Dhan Laxmi 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 Dhan Laxmi Bank MCLR Rates with Other Banks

About Dhan Laxmi Bank

  • Dhan Laxmi Bank's registered office is located at Dhanlaxmi Bank Limited, PB No.9, Dhanalakshmi Buildings, Naickanal Thrisoor Kerala-680001.
  • Dhan Laxmi Bank's management is led by its CEO Mr. Shivan J.K.
  • Its current Base Rate is 9.80%, which was last revised on 29th May 21.

FAQs

What is the MCLR of Dhan Laxmi Bank?

Dhan Laxmi Bank MCLR ranges between 7.30% to 8.70% for a tenure ranging between 1 month to 5 years.

What is the current Dhan Laxmi Bank MCLR rate?

Current Dhan Laxmi Bank, overnight tenure is 7.30%, 1 month mclr is 7.30% , three month mclr is 8.20%, six month mclr is 8.60%, one year tenure is 8.70% and two year tenure is 0.00%.

What is Dhan Laxmi Bank base rate?

Currently, Dhan Laxmi Bank offers loans at a base rate of 9.80%.


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Dhan Laxmi News - Jul 2021
  • 2021-04-12 : Dhan Laxmi Bank revised its MCLR for the month of April
    Dhan Laxmi Bank revised its Marginal cost of lending rates for the month of April. The overnight and one-month MCLR is 7.30%. The three months MCLR is 8.20%. In addition to this, the six months and one-year MCLR stands at 8.60% and 8.70%. The revised rates are in effect from 1 April 2021.
  • 2020-11-04 : Dhan Laxmi kept its MCLR same
    Dhan Laxmi Bank kept its MCLR unchanged. The overnight and one-month MCLR is 8%. The three months MCLR is 8.40%. In addition to this, the six months and one-year MCLR stands at 8.90%. The rates are in effect from 1 November 2020.
  • 2020-09-09 : Dhan Laxmi revised its marginal cost of lending rates
    Dhan Laxmi Bank changed its MCLR. The overnight and one-month MCLR is 8%. The three months MCLR is 8.40%. In addition to this, the six months and one-year MCLR stands at 8.90%. The revised rates are in effect from 1 September 2020.
  • 2020-06-05 : Dhan Laxmi revised its MCLR
    Dhan Laxmi Bank changed its MCLR. The overnight and one-month MCLR is 8%. The three months MCLR is 8.40%. In addition to this, the six months and one-year MCLR stands at 8.95% and 9.05, respectively. The revised rates are in effect from 1 June 2020.
  • 2020-05-06 : Dhan Laxmi Bank revised MCLR
    Dhan Laxmi Bank changed its MCLR. The overnight and one-month MCLR is 8%. The three months MCLR is 8.50%. In addition to this, the six months and one-year MCLR stands at 9.10% and 9.20, respectively. The revised rates are in effect from 5 May 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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