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Equitas Small Finance Bank MCLR Rates, Equitas Small Finance Bank Base Rate – Oct 2021

Equitas Small Finance Bank MCLR Rate

Last Updated 05th Oct 2021

Current MCLR rate of Equitas Small Finance Bank ranges from 12.25% to 13.15% varying by reset frequency of the loan. Equitas Small Finance 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 Equitas Bank Rate Today
Overnight 12.40%
1 Month 12.25%
3 Month 12.40%
6 Month 12.50%
1 Year 13.15%
Equitas Bank Base Rate -
Apply for Home Loan @ 6.50% *

Equitas Small Finance Bank Interest Rates

Equitas Small Finance Bank offers the following loans to its customer on these rates currently:

Fixed Deposit Interest Rates 3.50% to 6.00% Detail
Saving Account Interest Rates 3.50% to 7.00% Detail
RD Interest Rates 6.25% to 6.50% Detail

MCLR of Equitas Small Finance Bank

Equitas Small Finance Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Equitas Small Finance Bank as announced on 01 Oct 2021 are:

  • Overnight MCLR Rate is 12.40%.
  • 1 Month MCLR Rate is 12.25%.
  • 3 Month MCLR Rate is 12.40%.
  • 6 Month MCLR Rate is 12.50%.
  • 1 Year MCLR Rate is 13.15%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

Equitas Small Finance Bank MCLR Rate Trend

Date Equitas Small Finance Bank MCLR
01st Oct 21 Overnight : 12.40%
1 Month : 12.25%
3 Month : 12.40%
6 Month : 12.50%
1 Year : 13.15%
01st Aug 21 Overnight : 11.80%
1 Month : 11.90%
3 Month : 12.05%
6 Month : 12.20%
1 Year : 12.55%
01st Jun 21 Overnight : 13.40%
1 Month : 13.40%
3 Month : 13.50%
6 Month : 13.70%
1 Year : 13.90%
2 Year : 14.40%
3 Year : 4.80%
01st Feb 21 Overnight : 12.15%
1 Month : 11.95%
3 Month : 11.85%
6 Month : 12.45%
1 Year : 12.50%
01st Jan 21 Overnight : 12.65%
1 Month : 12.30%
3 Month : 12.45%
6 Month : 12.70%
1 Year : 12.90%
01st Dec 20 Overnight : 12.80%
1 Month : 12.45%
3 Month : 12.50%
6 Month : 12.85%
1 Year : 13.05%
  • Effective 1st April 2016, Equitas Small Finance 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. Equitas Small Finance Bank MCLR rates for different tenors range from 12.25% to 13.15%.
  • 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, Equitas Small Finance 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, Equitas Small Finance 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%, Equitas Bank 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 Equitas Small Finance Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Equitas Small Finance Bank.
  • MCLR rate can be revised by Equitas Small Finance Bank every month. However, it is not mandatory for Equitas Small Finance 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.

Compare Equitas Small Finance Bank MCLR Rates with Other Banks

About Equitas Small Finance Bank

  • Equitas Small Finance Bank's registered office is located at 410A, 4th Floor, Spencer Plaza, Phase II No.769, Mount Road, Anna Salai Chennai Chennai TN 600002 IN.
  • Equitas Small Finance Bank's management is led by its CEO Mr. Vasudevan Pathangi Narasimhan.

FAQs

What is the MCLR of Equitas Small Finance Bank?

Equitas Small Finance Bank MCLR ranges between 12.25% to 13.15% for a tenure ranging between 1 month to 5 years.

What is the current Equitas Small Finance Bank MCLR rate?

Current Equitas Small Finance Bank, overnight tenure is 12.40%, 1 month mclr is 12.25% , three month mclr is 12.40%, six month mclr is 12.50%, one year tenure is 13.15% and two year tenure is 0.00%.

What is Equitas Small Finance Bank base rate?

Currently, Equitas Small Finance Bank offers loans at a base rate of %.


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Equitas Bank News - Oct 2021
  • 2021-02-04 : Revised MCLR for Equitas small finance Bank
    Equitas small finance Bank revised its MCLR with effect from 1 February 2021. The overnight and one-month MCLR is 12.15% and 11.95%, respectively. MCLR for three months, six months and one year stand at 11.85%, 12.45% and 12.50%, respectively.
  • 2020-06-01 : Equitas small finance Bank changed its MCLR
    Equitas small finance Bank revised its MCLR. The overnight and one-month MCLR is 13.45% and 13.15%, respectively. MCLR for three months, six months and one year stand at 13.05%, 13.60% and 13.70%, respectively. The revised rates are in effect from June 1 2020.
  • 2020-05-04 : Equitas small finance Bank revised its MCLR
    Equitas small finance Bank changed its MCLR. The overnight and one-month MCLR is 13.35% and 13.05%. MCLR for three months, six months and one year stand at 13.45%, 14.35% and 14.15%, respectively. The revised rates are in effect from 1 May 2020.
  • 2020-03-03 : Equitas small finance Bank revised its MCLR
    Equitas small finance Bank changed its MCLR. The overnight and one-month MCLR is 14.20%. MCLR for three months, six months and one year stand at 14.50%, 14.70% and 14.95%, respectively. The revised rates are in effect from 1 March 2020.
  • 2020-01-02 : New MCLR for Equitas Small Finance Bank
    Equitas Small Finance Bank revised its lending rates on January 1, 2020. The MCLR for overnight tenor is 13.90%; for one month it is 13.70%, and for three months MCLR is set at 13.80%. Further, for six months and one-year MCLR is revised to 14.20% and 14.55%.
*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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