4,80,000 people visited this section in last 30 daysApply Online

Get Voucher of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

ESAF Small Finance Bank MCLR Rates, ESAF Small Finance Bank Base Rate – May 2022

ESAF Small Finance Bank MCLR Rate

Last Updated 11th May 2022

Current MCLR rate of ESAF Small Finance Bank ranges from 10.99% to 12.57% 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 10.99%
1 Month 11.02%
3 Month 11.18%
6 Month 11.64%
1 Year 12.57%
ESAF Bank Base Rate -
GET FREE CREDIT REPORT

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 4.00% to 6.25% Detail
Saving Account Interest Rates 4.00% to 7.00% Detail
RD Interest Rates 5.00% to 6.00% 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 Apr 2022 are:

  • Overnight MCLR Rate is 10.99%.
  • 1 Month MCLR Rate is 11.02%.
  • 3 Month MCLR Rate is 11.18%.
  • 6 Month MCLR Rate is 11.64%.
  • 1 Year MCLR Rate is 12.57%.
  • 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 Apr 22 Overnight : 10.99%
1 Month : 11.02%
3 Month : 11.18%
6 Month : 11.64%
1 Year : 12.57%
17th Mar 22 Overnight : 11.75%
1 Month : 11.77%
3 Month : 11.88%
6 Month : 12.19%
1 Year : 12.82%
17th Feb 22 Overnight : 11.88%
1 Month : 11.90%
3 Month : 11.99%
6 Month : 12.24%
1 Year : 12.74%
17th Dec 21 Overnight : 11.97%
1 Month : 12.07%
3 Month : 12.21%
6 Month : 12.52%
1 Year : 12.83%
17th Nov 21 Overnight : 12.44%
1 Month : 12.39%
3 Month : 12.55%
6 Month : 12.69%
1 Year : 13.98%
17th Oct 21 Overnight : 12.78%
1 Month : 12.61%
3 Month : 12.78%
6 Month : 12.88%
1 Year : 13.09%
17th Sep 21 Overnight : 13.18%
1 Month : 13.18%
3 Month : 13.33%
6 Month : 13.46%
1 Year : 13.64%
17th Jun 21 Overnight : 14.01%
1 Month : 14.09%
3 Month : 14.16%
6 Month : 14.37%
1 Year : 14.47%
  • 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 10.99% to 12.57%.
  • 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 10.99% to 12.57% 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 10.99%, 1 month mclr is 11.02% , three month mclr is 11.18%, six month mclr is 11.64%, one year tenure is 12.57% 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%.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 7.05%.

    Invest Now
ESAF Bank News - May 2022
  • 2021-12-17 : ESAF Small Finance Bank Revises MCLR
    ESAF Small Finance Bank has revised the Marginal Cost of Lending Rates for different tenures. As a result, the Overnight MCLR is 11.97%, One Month MCLR is 12.07%. The MCLR for three months, six months, and one year is 12.21%, 12.52% and 12.83%, respectively.
  • 2021-10-26 : ESAF Small Bank Increases MCLR for All Tenures
    ESAF small finance bank has increased MCLR for all tenures. For overnight and one month, MCLR is 12.78% and 12.61%, respectively. MCLR for three months and six months stand at 12.78 and 12.88, respectively.
  • 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.
*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
Loader
Please wait while your information is being processed...