HSBC Bank Base Rate, HSBC Bank MCLR Base Rate Past Trend

Current HSBC Bank MCLR Base Rate

Last Updated 07th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 7.90%
1 Month 7.90%
3 Month 8.10%
6 Month 8.30%
1 Year 8.30%
Current MCLR base rate of HSBC Bank ranges from 7.90% to 8.30% depending on the reset frequency of the loan. Rates are revised every month.
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HSBC Bank Interest Rates
Home Loan Interest Rates 9.35% * Floating Detail
Loan Against Property Rates 10.50% * Floating Detail
Fixed Deposit Interest Rates 3.25% to 6.25% * Detail

Past Trend Base Rate of HSBC Bank

HSBC Bank base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
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 base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, HSBC Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base 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 7.90% to 8.30% for different tenures

Changes in MCLR Base rate 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 base 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 Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
09th Nov 15 9.10% decreased by 0.15%
29th Sep 15: 0.5% repo cut by RBI
07th Sep 15 9.25% decreased by 0.2%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
09th Feb 15 9.45% decreased by 0.25%
15th Jan 15: 0.25% repo cut by RBI
01st Sep 14 9.70% decreased by 0.3%
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
21st Oct 13 10.00% increased by 0.25%
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
02nd Aug 11 9.75% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
04th Jul 11 9.25% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
12th May 11 9.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
09th Mar 11 8.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
04th Jan 11 8.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50% increased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
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.
  • Highest fixed deposit interest offered by HSBC Bank is 6.25% per annum on deposits.
  • Its current Base Rate is 9.10%, which was last revised on 09th Nov 15.
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News - Dec 2016
20th May 16 HSBC to Close Half of India Branches in Digital Banking Push
HSBC Holdings Plc plans to shut almost half its branches in India and rely more on digital banking to expand its consumer business in the South Asian nation. The London based bank will cut 24 of its 50 branches. The outlets to be closed account for less than 10 percent of HSBC retail customer base in India. HSBC said it remains committed to India, where it is also shutting its global private banking operations.
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