IDBI Bank MCLR Rates, IDBI Bank Base Rate – Mar 2017

IDBI Bank MCLR Rate – Current Rate, Past Trend

Last Updated 22nd Mar 2017
IDBI Bank MCLR, Base Rate Tenure
8.20% Overnight
8.40% 1 Month
8.55% 3 Month
8.60% 6 Month
8.80% 1 Year
8.85% 2 Year
8.95% 3 Year
Base rate - 9.65% Past Trend
Current MCLR of IDBI Bank ranges from 8.20% to 8.95% depending on the reset frequency of the loan. Rates are revised every month.
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IDBI Bank Interest Rates
Home Loan Interest Rates 9.15% * Floating Detail
Loan Against Property Rates 10.55% * Floating Detail
Personal Loan Interest Rates 13.20% * Detail
Fixed Deposit Interest Rates 4.25% to 6.90% * Detail

Past Trend MCLR Rate of IDBI Bank

IDBI Bank MCLR 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 Feb 17
8.20%
8.40%
8.55%
8.60%
8.80%
8.85%
8.95%
-
01st Jan 17
8.50%
8.75%
8.85%
8.90%
9.15%
9.20%
9.30%
-
01st Oct 16
8.75%
9.05%
9.15%
9.25%
9.30%
9.60%
9.70%
-
01st Jul 16
8.60%
9.00%
9.15%
9.25%
9.30%
9.55%
9.70%
-
01st Apr 16
8.85%
9.25%
9.35%
9.40%
9.45%
9.75%
9.90%
-

IDBI Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, IDBI 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. IDBI Bank has different MCLR base rates ranging from 8.20% to 8.95% for different tenures

Changes in MCLR of IDBI Bank

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

IDBI Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by IDBI 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 IDBI 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 IDBI 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 9.45%. This loan will initially be priced at 9.95%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.2%, the loan will be priced at 9.7% for the next year

Past trend of IDBI Bank Base Rate vs RBI Repo Rate

Date Base Rate
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
01st Aug 16 9.65% decreased by 0.1%
05th Apr 16: 0.25% repo cut by RBI
30th Sep 15 9.75% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
07th May 15 10.00% 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
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
01st Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
20th Apr 12 10.50% 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
01st Aug 11 10.75% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
05th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
08th Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% 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 8.00%

IDBI Bank Base Rate Vs. RBI Repo Rate Trend

About IDBI Bank

  • IDBI Bank is a Public Sector Bank in India with 1,717 branches, 3,000 ATM's and 16,555 employees across the country.
  • IDBI Bank's registered office is located at IDBI Tower, WTC Complex, Cuffe Parade Mumbai Maharashtra-400005 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 1,660 crs. and Standalone net profit of Rs. 546 crs. IDBI Bank reported total deposits of Rs. 259,836 crs and total advances of Rs. 208,377 crs.
  • IDBI Bank's management is led by its CEO Mr. Kishor Kharat.
  • Its current Base Rate is 9.65%, which was last revised on 01st Aug 16.
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News - Mar 2017
21st Mar 17 Government swaps chief executives of IDBI Bank, Indian Bank
Mahesh Kumar Jain, MD and CEO of Indian Bank have been appointed as MD and CEO of IDBI Bank. Mahesh Kumar Jain will head IDBI Bank for the remaining period of his current tenure or until further orders, whichever is earlier, IBDI Bank added.
28th Feb 17 IDBI Bank to restrict corporate loans and expand its retail loan business
IDBI Bank has decided to limit its fresh loan disbursements to corporate sector due to rising quantum of bad loans. Simultaneously, the bank has decided to expand its business in retail loan segment. The decision has been taken to arrest the burgeoning non-performing assets.The bank has witnessed a significant rise in its non-performing assets by Rs. 5,111 crore at Rs. 35,254 crore during the third quarter of FY17.
27th Feb 17 IDBI Bank is set to receive Rs. 3,000 crore bailout package from government
The Central Government of India is set to invest Rs. 3,000 crore in IDBI Bank as a bailout package. The infusion of funds is expected to help the bank in maintaining its capital adequacy ratio and revive its falling credit growth. Earlier the bank has received approval from board of directors to divest some of its non core activities through which the bank expects to raise Rs. 5,000 crore.
07th Feb 17 IDBI Bank cuts home loan interest rates
IDBI Bank has reduced its home loan interest rates by 60 basis points for new home loan borrowers. The revised home loan interest rate now stands at 8.55 percent as compared to 9.15 percent earlier. The new rate is effective from 1st February, 2017.
02nd Jan 17 IDBI cuts MCLR by up to 40 basis points
IDBI Bank has reduced its overnight and three months marginal cost of lending rates to 8.50 and 8.85 percent as compared to 8.75 and 9.15 percent earlier. The revised MCLR for six months and one year now stands at 8.90 and 9.15 percent respectively. Similarly, three year MCLR has reduced to 9.30 percent as compared to 9.70 percent earlier. The rates are effective from 1st January, 2017.
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