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

Last Updated 19th Apr 2017

IDBI Bank MCLR Rate – Current Rate, 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.

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 - 9.50% Past Trend
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IDBI Bank Interest Rates
Home Loan Interest Rates 8.55% * Floating Detail
Loan Against Property Rates 9.95% * Floating Detail
Personal Loan Interest Rates 13.20% * Detail
Fixed Deposit Interest Rates 4.25% to 6.40% * 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 RBI Rates Bank Rates
08th Feb 17 0%
01st Jan 17 9.50% 0.15%
07th Dec 16 0%
04th Oct 16 0.25%
01st Aug 16 9.65% 0.1%
05th Apr 16 0.25%
30th Sep 15 9.75% 0.25%
29th Sep 15 0.5%
02nd Jun 15 0.25%
07th May 15 10.00% 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
01st Feb 13 10.25% 0.25%
29th Jan 13 0.25%
20th Apr 12 10.50% 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 10.75% 0.75%
26th Jul 11 0.5%
16th Jun 11 0.25%
05th May 11 10.00% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
08th Feb 11 9.50% 0.5%
25th Jan 11 0.25%
01st Jan 11 9.00% 0.5%
02nd Nov 10 0.25%
01st Oct 10 8.50% 0.5%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
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 9.50%, which was last revised on 01st Jan 17.

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News - Apr 2017
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