Current MCLR rate of Fincare Small Finance Bank ranges from 14.50% to 15.00% varying by reset frequency of the loan. Fincare 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	Fincare Bank Rate Today
Overnight	14.50%
1 Month	14.50%
3 Month	14.60%
6 Month	14.80%
1 Year	14.90%
2 Year	15.00%
Fincare Bank Base Rate	-

Fincare Small Finance Bank Interest Rates

Fixed Deposit Interest Rates	3.50% to 7.50%	Detail
Saving Account Interest Rates	5.50% to 7.25%	Detail
RD Interest Rates	6.50% to 9.00%	Detail

MCLR of Fincare Small Finance Bank

Fincare Small Finance Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Fincare Small Finance Bank as announced on 15 Jun 2020 are:

• Overnight MCLR Rate is 14.50%. The rate was last revised on 15 May 2020 to 14.50% from 14.55%
• 1 Month MCLR Rate is 14.50%. The rate was last revised on 15 Jun 2020 to 14.50% from 14.60%
• 3 Month MCLR Rate is 14.60%. The rate was last revised on 15 Jun 2020 to 14.60% from 14.70%
• 6 Month MCLR Rate is 14.80%. The rate was last revised on 15 May 2020 to 14.80% from 14.85%
• 1 Year MCLR Rate is 14.90%. The rate was last revised on 15 May 2020 to 14.90% from 14.95%
• 2 Year MCLR Rate is 15.00%. The rate was last revised on 15 May 2020 to 15.00% from 15.05%

Fincare Small Finance Bank MCLR Rate Trend

• Effective 1st April 2016, Fincare 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. Fincare Small Finance Bank MCLR rates for different tenors range from 14.50% to 15.00%.
• 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, Fincare 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, Fincare 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%, Fincare 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 Fincare 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 Fincare Small Finance Bank.
• MCLR rate can be revised by Fincare Small Finance Bank every month. However, it is not mandatory for Fincare 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 Fincare Small Finance Bank MLCR Rates with Other Banks