IDBI Bank MCLR Rates, IDBI Bank Base Rate – Dec 2018

IDBI Bank MCLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current MCLR rate of IDBI Bank ranges from 8.00% to 9.00% varying by reset frequency of the loan. IDBI Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR IDBI Rate Today
Overnight 8.00%
1 Month 8.25%
3 Month 8.45%
6 Month 8.65%
1 Year 8.95%
2 Year 9.00%
3 Year 9.00%
IDBI Base Rate 9.65%

IDBI Bank Interest Rates

IDBI Bank Interest Rates
Home Loan Interest Rates 8.65% * Floating Detail
Loan Against Property Rates 10.20% * Floating Detail
Personal Loan Interest Rates 13.20% to 13.75% Detail
Car Loan Interest Rates 9.00% Detail
Business Loan Interest Rates 13.00% to 14.00% Detail
Fixed Deposit Interest Rates 5.75% to 7.05% Detail
Saving Account Interest Rates 4.00% to 4.00% Detail
RD Interest Rates 6.00% to 7.05% Detail

MCLR of IDBI Bank

IDBI Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of IDBI Bank as announced on 12 Nov 2018 are:

  • Overnight MCLR Rate is 8.00%. The rate was last revised on 12 Aug 2018 to 8.00% from 7.95%
  • 1 Month MCLR Rate is 8.25%. The rate was last revised on 12 Aug 2018 to 8.25% from 8.20%
  • 3 Month MCLR Rate is 8.45%. The rate was last revised on 12 Aug 2018 to 8.45% from 8.35%
  • 6 Month MCLR Rate is 8.65%. The rate was last revised on 12 Nov 2018 to 8.65% from 8.60%
  • 1 Year MCLR Rate is 8.95%. The rate was last revised on 12 Nov 2018 to 8.95% from 8.85%
  • 2 Year MCLR Rate is 9.00%. The rate was last revised on 12 Nov 2018 to 9.00% from 8.90%
  • 3 Year MCLR Rate is 9.00%. The rate was last revised on 12 Nov 2018 to 9.00% from 8.90%

IDBI Bank MCLR Rate Trend

Date IDBI Bank MCLR
12th Nov 18
Overnight : 8.00%
1 Month : 8.25%
3 Month : 8.45%
6 Month : 8.65%
1 Year : 8.95%
2 Year : 9.00%
3 Year : 9.00%
12th Nov 18
Overnight : 8.00%
1 Month : 8.25%
3 Month : 8.45%
6 Month : 8.65%
1 Year : 8.95%
2 Year : 9.00%
3 Year : 9.00%
12th Oct 18
Overnight : 8.00%
1 Month : 8.25%
3 Month : 8.45%
6 Month : 8.60%
1 Year : 8.85%
2 Year : 8.90%
3 Year : 8.90%
12th Sep 18
Overnight : 8.00%
1 Month : 8.25%
3 Month : 8.45%
6 Month : 8.60%
1 Year : 8.85%
2 Year : 8.90%
3 Year : 8.90%
12th Aug 18
Overnight : 8.00%
1 Month : 8.25%
3 Month : 8.45%
6 Month : 8.60%
1 Year : 8.85%
2 Year : 8.90%
3 Year : 8.90%
12th Jul 18
Overnight : 7.95%
1 Month : 8.20%
3 Month : 8.35%
6 Month : 8.50%
1 Year : 8.75%
2 Year : 8.80%
3 Year : 8.80%
12th Jun 18
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.35%
6 Month : 8.45%
1 Year : 8.65%
2 Year : 8.70%
3 Year : 8.80%
12th May 18
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.35%
6 Month : 8.45%
1 Year : 8.65%
2 Year : 8.70%
3 Year : 8.80%
12th Apr 18
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
12th Feb 18
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
12th Jan 18
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
12th Dec 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
12th Nov 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
07th Oct 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
07th Sep 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
2 Year : 8.60%
3 Year : 8.70%
07th May 17
Overnight : 8.05%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.65%
2 Year : 8.70%
3 Year : 8.75%
01st Feb 17
Overnight : 8.20%
1 Month : 8.40%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.80%
2 Year : 8.85%
3 Year : 8.95%
01st Jan 17
Overnight : 8.50%
1 Month : 8.75%
3 Month : 8.85%
6 Month : 8.90%
1 Year : 9.15%
2 Year : 9.20%
3 Year : 9.30%
01st Oct 16
Overnight : 8.75%
1 Month : 9.05%
3 Month : 9.15%
6 Month : 9.25%
1 Year : 9.30%
2 Year : 9.60%
3 Year : 9.70%
01st Jul 16
Overnight : 8.60%
1 Month : 9.00%
3 Month : 9.15%
6 Month : 9.25%
1 Year : 9.30%
2 Year : 9.55%
3 Year : 9.70%
01st Apr 16
Overnight : 8.85%
1 Month : 9.25%
3 Month : 9.35%
6 Month : 9.40%
1 Year : 9.45%
2 Year : 9.75%
3 Year : 9.90%
  • Effective 1st April 2016, IDBI Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. IDBI Bank MCLR rates for different tenors range from 8.00% to 9.00%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, IDBI Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, IDBI Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, IDBI may decide to cut its 6 Month MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of IDBI Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from IDBI Bank.
  • MCLR rate can be revised by IDBI Bank every month. However, 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 keeping them unchanged.

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, personal loans are linked to short tenure 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. IDBI Bank home loan rate is benchmarked to 6 Month MCLR Base Rate which will be repriced after 6 Month. Say, you take a loan from IDBI at current 6 Month MCLR rate of 8.65% plus spread of 20 bps. So, the loan will initially be priced at 8.85%. Its next re-pricing will be done after 6 Month from now. If the 3 Month MCLR rate after 6 Month increases by 10 bps, the loan will be priced at 8.95% for the next period.

Compare MCLR Rate Movement



    Compare IDBI Bank MLCR Rates with Other Banks

    About IDBI Bank

    • IDBI Bank's registered office is located at IDBI Tower, WTC Complex, Cuffe Parade Mumbai Maharashtra-400005 .
    • IDBI Bank's management is led by its CEO Mr. Kishor Kharat.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    IDBI News - Dec 2018
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