ICICI Bank Base Rate, ICICI Bank MCLR Base Rate Past Trend

Current ICICI Bank MCLR Base Rate

Last Updated 30th Nov 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 CRR at 4%. 100% CRR on fresh deposits withdrawn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 8.70%
1 Month 8.70%
3 Month 8.80%
6 Month 8.85%
1 Year 8.90%
Current MCLR base rate of ICICI Bank ranges from 8.70% to 8.90% depending on the reset frequency of the loan. Rates are revised every month.
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ICICI Bank Interest Rates
Home Loan Interest Rates 9.15% * Floating Detail
Loan Against Property Rates 10.25% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 4.00% to 7.10% * Detail

Past Trend Base Rate of ICICI Bank

ICICI 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
8.70%
8.70%
8.80%
8.85%
8.90%
-
-
-
01st Nov 16
8.75%
8.75%
8.85%
8.90%
8.95%
-
-
-
01st Oct 16
8.85%
8.85%
8.95%
9.00%
9.05%
-
-
-
01st Sep 16
8.90%
8.90%
9.00%
9.05%
9.10%
-
-
-
01st Aug 16
8.90%
8.90%
9.00%
9.05%
9.10%
-
-
-
01st Jun 16
8.95%
8.95%
9.05%
9.10%
9.15%
-
-
-

ICICI Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, ICICI 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. ICICI Bank has different MCLR base rates ranging from 8.70% to 8.90% for different tenures

Changes in MCLR Base rate of ICICI Bank

  • MCLR rate can be revised by ICICI Bank every month
  • Note that it is not mandatory for ICICI Bank to revise its rate every month and it may choose to retain the same rate for a longer period

ICICI Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by ICICI 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 ICICI 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 ICICI 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 9.15%. This loan will initially be priced at 9.65%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.9%, the loan will be priced at 9.4% for the next year

Past trend of ICICI 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
05th Oct 15 9.35% decreased by 0.35%
29th Sep 15: 0.5% repo cut by RBI
26th Jun 15 9.70% decreased by 0.05%
26th Jun 15 9.70%
02nd Jun 15: 0.25% repo cut by RBI
07th Apr 15 9.75% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
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
20th Sep 13: 0.25% repo hike by RBI
23rd Aug 13 10.00% increased by 0.25%
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
23rd Apr 12 9.75% decreased by 0.25%
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
13th Aug 11 10.00% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
04th Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
07th May 11 9.25% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
24th Feb 11 8.75% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
03rd Jan 11 8.25% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
06th Oct 10 7.75% increased by 0.25%
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 7.50%

ICICI Bank Base Rate Vs. RBI Repo Rate Trend

About ICICI Bank

  • ICICI Bank is a Private Bank in India with 4,050 branches, 12,451 ATM's and 67,857 employees across the country.
  • ICICI Bank's registered office is located at ICICI Bank Limited, Landmark, Race Course Circle, Vadodara-390007.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 19,040 crs. and Standalone net profit of Rs. 11,175 crs. ICICI Bank reported total deposits of Rs. 361,563 crs and total advances of Rs. 387,522 crs.
  • ICICI Bank's management is led by its CEO Ms. Chanda Kochhar.
  • Highest fixed deposit interest offered by ICICI Bank is 7.10% per annum on deposits.
  • Its current Base Rate is 9.35%, which was last revised on 10th May 15.
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News - Dec 2016
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
30th Nov 16 ICICI Bank fixed deposit rates cut by 55 basis points
ICICI Bank has reduced its one year bulk fixed deposit (more than Rs. 1 crore) rate by 55 basis points. The revised fixed deposit rate of ICICI Bank is now 6 percent. New rates are effective from 29th November, 2016.
29th Nov 16 ICICI Bank to transform 100 villages into digital villages
Given the trend of going cashless in payments and transactions post demonetization, ICICI Bank has decided to transform 100 villages into digital villages across the country in 100 days. Under the plan, the bank will work towards providing cashless payment system, vocational training and credit linkages to the villagers.
18th Nov 16 ICICI Bank fixed deposits rate cut by 15 to 25 basis points
ICICI Bank has reduced its fixed deposits rates by 25 basis points to 7 percent for one year to 389 days. Fixed deposits rate for 390 days to two years tenure is also reduced by 15 basis points to 7.10 percent from 7.25 percent. The revised fixed deposits rates for two to five year ICICI Bank FD are now 7 percent instead of 7.25 earlier. New rates would be effective from 17th November, 2016.
08th Nov 16 ICICI profit rises modestly as bad loans surge
ICICI Bank reported a modest 2 percent rise in net profit in September quarter to Rs. 3,102 crores. Bank posted its highest quarterly increase in bad loans in ten years. ICICI gross NPAs more than double to Rs. 32,158 crores from Rs. 15,857 crores in the same quarter last year.
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