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ESAF Small Finance Bank MCLR Rates, ESAF Small Finance Bank Base Rate – Jun 2021

ESAF Small Finance Bank MCLR Rate

Last Updated 08th Jun 2021

Current MCLR rate of ESAF Small Finance Bank ranges from 14.11% to 14.58% varying by reset frequency of the loan. ESAF 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 ESAF Bank Rate Today
Overnight 14.11%
1 Month 14.14%
3 Month 14.20%
6 Month 14.29%
1 Year 14.58%
ESAF Bank Base Rate -

ESAF Small Finance Bank Interest Rates

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

Fixed Deposit Interest Rates 4.50% to 6.50% Detail
Saving Account Interest Rates 4.00% to 7.00% Detail
RD Interest Rates 6.00% to 8.00% Detail

MCLR of ESAF Small Finance Bank

ESAF Small Finance Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of ESAF Small Finance Bank as announced on 17 May 2021 are:

  • Overnight MCLR Rate is 14.11%.
  • 1 Month MCLR Rate is 14.14%.
  • 3 Month MCLR Rate is 14.20%.
  • 6 Month MCLR Rate is 14.29%.
  • 1 Year MCLR Rate is 14.58%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

ESAF Small Finance Bank MCLR Rate Trend

Date ESAF Small Finance Bank MCLR
17th May 21 Overnight : 14.11%
1 Month : 14.14%
3 Month : 14.20%
6 Month : 14.29%
1 Year : 14.58%
17th Apr 21 Overnight : 13.66%
1 Month : 13.74%
3 Month : 13.93%
6 Month : 14.00%
1 Year : 14.36%
17th Feb 21 Overnight : 14.01%
1 Month : 14.17%
3 Month : 14.20%
6 Month : 14.37%
1 Year : 14.54%
17th Jan 21 Overnight : 13.94%
1 Month : 13.79%
3 Month : 13.95%
6 Month : 14.24%
1 Year : 14.37%
17th Dec 20 Overnight : 14.20%
1 Month : 14.04%
3 Month : 14.11%
6 Month : 14.35%
1 Year : 14.45%
17th Oct 20 Overnight : 14.20%
1 Month : 14.23%
3 Month : 14.20%
6 Month : 14.36%
1 Year : 14.42%
17th Sep 20 Overnight : 14.27%
1 Month : 14.11%
3 Month : 14.16%
6 Month : 14.35%
1 Year : 14.47%
17th Aug 20 Overnight : 14.40%
1 Month : 14.20%
3 Month : 14.30%
6 Month : 14.42%
1 Year : 14.52%
17th Jul 20 Overnight : 14.31%
1 Month : 14.29%
3 Month : 14.33%
6 Month : 14.49%
1 Year : 14.54%
  • Effective 1st April 2016, ESAF 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. ESAF Small Finance Bank MCLR rates for different tenors range from 14.11% to 14.58%.
  • 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, ESAF 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, ESAF 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%, ESAF 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 ESAF 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 ESAF Small Finance Bank.
  • MCLR rate can be revised by ESAF Small Finance Bank every month. However, it is not mandatory for ESAF 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 ESAF Small Finance Bank MCLR Rates with Other Banks

FAQs

What is the MCLR of ESAF Small Finance Bank?

ESAF Small Finance Bank MCLR ranges between 14.11% to 14.58% for a tenure ranging between 1 month to 5 years.

What is the current ESAF Small Finance Bank MCLR rate?

Current ESAF Small Finance Bank, overnight tenure is 14.11%, 1 month mclr is 14.14% , three month mclr is 14.20%, six month mclr is 14.29%, one year tenure is 14.58% and two year tenure is 0.00%.

What is ESAF Small Finance Bank base rate?

Currently, ESAF Small Finance Bank offers loans at a base rate of 0.00%.


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ESAF Bank News - Jun 2021
  • 2021-05-20 : ESAF Small Finance Bank revised its MCLR
    With effect from 18 May 2021, ESAF Small Finance Bank changed its MCLR. The overnight and one-month MCLR is 14.11% and 14.14%, respectively. The three months and six months MCLR is 14.20% and 14.29%, respectively. Further, the MCLR for one year stands at 14.58%. The revised rates will impact MCLR based home loans.
  • 2021-01-22 : Revised MCLR for ESAF Small Finance Bank
    With effect from 17 january 2021, ESAF Small Finance Bank changed its MCLR. The overnight and one-month MCLR is 13.94% and 13.79%, respectively. The three months and six months MCLR is 13.95% and 14.24%, respectively. Further, the MCLR for one year stands at 14.37%.
  • 2020-08-20 : ESAF Small Finance Bank revised its MCLR
    ESAF Small Finance Bank changed its MCLR. The overnight and one-month MCLR is 14.40% and 14.20%, respectively. The three months and six months MCLR is 14.30% and 14.42%, respectively. Further, the MCLR for one year stands at 14.52%. The revised rates are effective from 17 August 2020.
  • 2020-04-17 : New MCLR for ESAF Small Finance Bank
    ESAF Small Finance Bank revised its MCLR. The overnight and one-month MCLR is 13.71% and 14.09%, respectively. The three months and six months MCLR is 14.58% and 14.81%, respectively. Further, the MCLR for one year stands at 14.91%. The revised rates are effective from 17 April 2020.
  • 2020-03-18 : New lending rates for ESAF Small Finance Bank
    ESAF Small Finance Bank revised its MCLR. The overnight and one-month MCLR is 15.53% and 14.89%, respectively. The three months and six months lending rate is 14.99% and 15.05%, respectively. Further, the MCLR for one year stands at 15.12%. The revised rates have been in effect from 17 March 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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