Federal Bank MCLR Rates, Federal Bank Base Rate – Jul 2017
Last Updated 18th Jul 2017
Federal Bank MCLR Rate – Current Rate, Past Trend
Current MCLR of Federal Bank ranges from 8.60% to 8.90% depending on the reset frequency of the loan. Rates are revised every month.
| Federal Bank MCLR, Base Rate | Tenure |
|---|---|
| 8.60% | Overnight |
| 8.65% | 1 Month |
| 8.70% | 3 Month |
| 8.80% | 6 Month |
| 8.90% | 1 Year |
| Base rate - 9.63% | Past Trend |
Federal Bank Interest Rates
| Home Loan Interest Rates | 9.00% * Floating | Detail |
| Loan Against Property Rates | 11.65% * Floating | Detail |
| Personal Loan Interest Rates | 13.32% * | Detail |
| Fixed Deposit Interest Rates | 3.50% to 7.00% * | Detail |
Past Trend MCLR Rate of Federal Bank
Federal Bank MCLR Rate History
Revised
Date
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
MCLR
2 Year
MCLR
MCLR
3 Year
MCLR
MCLR
5 Year
MCLR
MCLR
16th Jul 17
8.60%
8.65%
8.70%
8.80%
8.90%
-
-
-
16th Jun 17
8.60%
8.65%
8.70%
8.80%
8.90%
-
-
-
16th May 17
8.65%
8.70%
8.75%
8.85%
8.95%
-
-
-
16th Apr 17
8.70%
8.70%
8.75%
8.85%
8.95%
-
-
-
16th Mar 17
8.70%
8.70%
8.75%
8.85%
8.95%
-
-
-
16th Feb 17
8.70%
8.70%
8.75%
8.85%
8.95%
-
-
-
16th Jan 17
8.70%
8.75%
8.80%
8.85%
8.95%
-
-
-
01st Jan 17
8.90%
8.95%
9.10%
9.20%
9.30%
-
-
-
01st Dec 16
8.95%
9.00%
9.15%
9.25%
9.40%
-
-
-
01st Nov 16
9.10%
9.20%
9.30%
9.40%
9.45%
-
-
-
01st Oct 16
9.10%
9.43%
9.57%
9.57%
9.52%
-
-
-
01st Sep 16
9.10%
9.43%
9.57%
9.57%
9.52%
-
-
-
01st Aug 16
9.10%
9.43%
9.57%
9.57%
9.52%
-
-
-
01st Jul 16
9.10%
9.43%
9.57%
9.57%
9.52%
-
-
-
01st Jun 16
9.08%
9.41%
9.55%
9.54%
9.49%
-
-
-
01st May 16
9.08%
9.41%
9.55%
9.54%
9.49%
-
-
-
01st Apr 16
9.14%
9.47%
9.60%
9.60%
9.54%
-
-
-
Federal Bank MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Federal Bank decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
- Note that the RBI does not decide the MCLR Rate of any bank
- Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Federal Bank has different MCLR base rates ranging from 8.60% to 8.90% for different tenures
Changes in MCLR of Federal Bank
- MCLR rate can be revised by Federal Bank every month
- Note that it is not mandatory for Federal Bank to revise its rate every month and it may choose to retain the same rate for a longer period
Federal Bank home loan interest rate and MCLR
- Every floating rate loan sanctioned by Federal 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, overnight loans) are linked to shorter duration 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
- Your loan from Federal Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Federal Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.54%. This loan will initially be priced at 10.04%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.29%, the loan will be priced at 9.79% for the next year
Past trend of Federal Bank Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 04th Oct 16 | 0.25% | |
| 05th Apr 16 | 0.25% | |
| 02nd Dec 15 | 9.63% 0.32% | |
| 29th Sep 15 | 0.5% | |
| 18th Jun 15 | 9.95% 0.25% | |
| 02nd Jun 15 | 0.25% | |
| 04th Mar 15 | 0.25% | |
| 15th Jan 15 | 0.25% | |
| 16th Jun 14 | 10.20% | |
| 28th Jan 14 | 0.25% | |
| 29th Oct 13 | 0.25% | |
| 20th Sep 13 | 0.25% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 21st Feb 13 | 10.20% 0.25% | |
| 29th Jan 13 | 0.25% | |
| 02nd May 12 | 10.45% 0.2% | |
| 17th Apr 12 | 0.5% | |
| 05th Mar 12 | 10.65% 0.1% | |
| 07th Nov 11 | 10.75% 0.25% | |
| 25th Oct 11 | 0.25% | |
| 10th Oct 11 | 10.50% 0.25% | |
| 16th Sep 11 | 0.25% | |
| 01st Aug 11 | 10.25% 0.28% | |
| 26th Jul 11 | 0.5% | |
| 20th Jun 11 | 9.97% 0.25% | |
| 16th Jun 11 | 0.25% | |
| 10th May 11 | 9.72% 0.47% | |
| 03rd May 11 | 0.5% | |
| 04th Apr 11 | 9.25% 0.25% | |
| 17th Mar 11 | 0.25% | |
| 10th Feb 11 | 9.00% 0.5% | |
| 25th Jan 11 | 0.25% | |
| 01st Jan 11 | 8.50% 0.5% | |
| 02nd Nov 10 | 0.25% | |
| 01st Oct 10 | 8.00% 0.25% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 7.75% |
Federal Bank Base Rate Vs. RBI Repo Rate Trend
About Federal Bank
- Federal Bank is a Private Bank in India with 1,247 branches, 1,485 ATM's and 10,981 employees across the country.
- Federal Bank's registered office is located at P.O.Box No.103 Federal Towers Aluva, Kerala-683101 .
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 2,380 crs. and Standalone net profit of Rs. 1,006 crs. Federal Bank reported total deposits of Rs. 70,825 crs and total advances of Rs. 51,951 crs.
- Federal Bank's management is led by its CEO Mr. Shyam Srinivasan.
- Its current Base Rate is 9.63%, which was last revised on 01st Dec 15.
