ESAF Small Finance Bank MCLR Rates, ESAF Small Finance Bank Base Rate – Mar 2020

ESAF Small Finance Bank MCLR Rate

27th March 2020 – RBI cuts Repo Rate by 75 bps to 4.4%

Current MCLR rate of ESAF Small Finance Bank ranges from 14.89% to 15.53% 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 tenor.

Tenure wise MCLR ESAF Bank Rate Today
Overnight 15.53%
1 Month 14.89%
3 Month 14.99%
6 Month 15.05%
1 Year 15.12%
ESAF Bank Base Rate -

ESAF Small Finance Bank Interest Rates

ESAF Small Finance Bank Interest Rates
Fixed Deposit Interest Rates 5.50% to 8.00% 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 Mar 2020 are:

  • Overnight MCLR Rate is 15.53%. The rate was last revised on 17 Mar 2020 to 15.53% from 14.89%
  • 1 Month MCLR Rate is 14.89%. The rate was last revised on 17 Mar 2020 to 14.89% from 14.93%
  • 3 Month MCLR Rate is 14.99%. The rate was last revised on 17 Mar 2020 to 14.99% from 14.89%
  • 6 Month MCLR Rate is 15.05%. The rate was last revised on 17 Mar 2020 to 15.05% from 14.97%
  • 1 Year MCLR Rate is 15.12%. The rate was last revised on 17 Mar 2020 to 15.12% from 15.10%

ESAF Small Finance Bank MCLR Rate Trend

Date ESAF Small Finance Bank MCLR
17th Mar 20
Overnight : 15.53%
1 Month : 14.89%
3 Month : 14.99%
6 Month : 15.05%
1 Year : 15.12%
17th Feb 20
Overnight : 14.89%
1 Month : 14.93%
3 Month : 14.89%
6 Month : 14.97%
1 Year : 15.10%
17th Jan 20
Overnight : 14.71%
1 Month : 14.64%
3 Month : 14.81%
6 Month : 14.95%
1 Year : 15.05%
  • 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 14.89% to 15.53%.
  • 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.

Compare MCLR Rate Movement



    Compare ESAF Small Finance Bank MLCR Rates with Other Banks

    About ESAF Small Finance Bank

    • ESAF Small Finance Bank's registered office is located at ESAF Small Finance Bank, ESAF Bhavan Mannuthy P. O., Thrissur, Kerala, India - 680651.
    • ESAF Small Finance Bank's management is led by its CEO Mr. Kadambelil Paul Thomas.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    ESAF Bank News - Mar 2020
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