HSBC Bank MCLR Rates, HSBC Bank Base Rate – Sep 2017
Last Updated 05th Sep 2017
HSBC Bank MCLR Rate – Current Rate, Past Trend
Current MCLR of HSBC Bank ranges from 7.80% to 8.05% depending on the reset frequency of the loan. Rates are revised every month.
| HSBC Bank MCLR, Base Rate | Tenure |
|---|---|
| 7.80% | Overnight |
| 7.80% | 1 Month |
| 7.90% | 3 Month |
| 8.05% | 6 Month |
| 8.05% | 1 Year |
| Base rate - 9.00% | Past Trend |
HSBC Bank Interest Rates
| Home Loan Interest Rates | 8.65% * Floating | Detail |
| Loan Against Property Rates | 9.85% * Floating | Detail |
| Fixed Deposit Interest Rates | 3.00% to 6.50% * | Detail |
Past Trend MCLR Rate of HSBC Bank
HSBC 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
01st Sep 17
7.80%
7.80%
7.90%
8.05%
8.05%
-
-
-
01st Aug 17
7.80%
7.80%
7.95%
8.10%
8.10%
-
-
-
03rd Jul 17
7.75%
7.75%
7.85%
8.00%
8.00%
-
-
-
01st Jun 17
7.60%
7.60%
7.70%
7.85%
7.85%
-
-
-
02nd May 17
7.60%
7.60%
7.70%
7.90%
7.85%
-
-
-
01st Apr 17
7.60%
7.60%
7.70%
7.90%
7.85%
-
-
-
01st Mar 17
7.70%
7.70%
7.80%
8.00%
8.00%
-
-
-
01st Feb 17
7.70%
7.70%
7.80%
8.00%
8.00%
-
-
-
01st Jan 17
7.90%
7.90%
7.90%
8.10%
8.10%
-
-
-
01st Dec 16
7.90%
7.90%
8.10%
8.30%
8.30%
-
-
-
01st Nov 16
8.10%
8.10%
8.25%
8.45%
8.40%
-
-
-
01st Oct 16
8.20%
8.20%
8.30%
8.45%
8.40%
-
-
-
01st Sep 16
8.30%
8.30%
8.40%
8.45%
8.40%
-
-
-
01st Aug 16
8.40%
8.40%
8.50%
8.50%
8.40%
-
-
-
01st Jul 16
8.40%
8.40%
8.60%
8.60%
8.40%
-
-
-
01st Jun 16
8.50%
8.50%
8.60%
8.60%
8.40%
-
-
-
HSBC Bank MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, HSBC 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. HSBC Bank has different MCLR base rates ranging from 7.80% to 8.05% for different tenures
Changes in MCLR of HSBC Bank
- MCLR rate can be revised by HSBC Bank every month
- Note that it is not mandatory for HSBC Bank to revise its rate every month and it may choose to retain the same rate for a longer period
HSBC Bank home loan interest rate and MCLR
- Every floating rate loan sanctioned by HSBC 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 HSBC 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 HSBC 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 8.40%. This loan will initially be priced at 8.9%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.15%, the loan will be priced at 8.65% for the next year
Past trend of HSBC Bank Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 02nd Aug 17 | 0.25% | |
| 24th Nov 16 | 9.00% 0.1% | |
| 04th Oct 16 | 0.25% | |
| 05th Apr 16 | 0.25% | |
| 09th Nov 15 | 9.10% 0.15% | |
| 29th Sep 15 | 0.5% | |
| 07th Sep 15 | 9.25% 0.2% | |
| 02nd Jun 15 | 0.25% | |
| 04th Mar 15 | 0.25% | |
| 09th Feb 15 | 9.45% 0.25% | |
| 15th Jan 15 | 0.25% | |
| 01st Sep 14 | 9.70% 0.3% | |
| 28th Jan 14 | 0.25% | |
| 29th Oct 13 | 0.25% | |
| 21st Oct 13 | 10.00% 0.25% | |
| 20th Sep 13 | 0.25% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 29th Jan 13 | 0.25% | |
| 17th Apr 12 | 0.5% | |
| 25th Oct 11 | 0.25% | |
| 16th Sep 11 | 0.25% | |
| 02nd Aug 11 | 9.75% 0.5% | |
| 26th Jul 11 | 0.5% | |
| 04th Jul 11 | 9.25% 0.25% | |
| 16th Jun 11 | 0.25% | |
| 12th May 11 | 9.00% 0.5% | |
| 03rd May 11 | 0.5% | |
| 17th Mar 11 | 0.25% | |
| 09th Mar 11 | 8.50% 0.5% | |
| 25th Jan 11 | 0.25% | |
| 04th Jan 11 | 8.00% 0.5% | |
| 02nd Nov 10 | 0.25% | |
| 01st Oct 10 | 7.50% 0.5% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 7.00% |
HSBC Bank Base Rate Vs. RBI Repo Rate Trend
About HSBC Bank
- HSBC Bank is a Foreign Bank in India with 50 branches, 132 ATM's and 4,748 employees across the country.
- HSBC Bank's registered office is located at Dhana Singh Processor Premises, J.B.Nagar, Andheri-Kurla Road, Mumbai Maharashtra-400059 .
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 4,002 crs. and Standalone net profit of Rs. 2,711 crs. HSBC Bank reported total deposits of Rs. 85,256 crs and total advances of Rs. 46,617 crs.
- HSBC Bank's management is led by its CEO Mr. Stuart Gulliver.
- Its current Base Rate is 9.00%, which was last revised on 24th Nov 16.
