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

IDFC Bank MCLR Rate

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

Current MCLR rate of IDFC Bank ranges from 8.50% to 9.35% varying by reset frequency of the loan. IDFC 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 IDFC Bank Rate Today
Overnight 8.50%
1 Month 8.50%
3 Month 8.75%
6 Month 8.95%
1 Year 9.20%
2 Year 9.20%
3 Year 9.35%
IDFC Bank Base Rate 9.50%

IDFC Bank Interest Rates

IDFC Bank Interest Rates
Home Loan Interest Rates 9.25% * Floating Detail
Loan Against Property Rates 10.00% * Floating Detail
Personal Loan Interest Rates 11.50% to 19.50% Detail
Business Loan Interest Rates 16.00% to 20.00% Detail
Fixed Deposit Interest Rates 4.00% to 8.25% Detail
Saving Account Interest Rates 4.00% to 4.00% Detail
RD Interest Rates 6.75% to 7.25% Detail

MCLR of IDFC Bank

IDFC Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of IDFC Bank as announced on 10 Dec 2018 are:

  • Overnight MCLR Rate is 8.50%. The rate was last revised on 08 Oct 2018 to 8.50% from 8.40%
  • 1 Month MCLR Rate is 8.50%. The rate was last revised on 08 Oct 2018 to 8.50% from 8.40%
  • 3 Month MCLR Rate is 8.75%. The rate was last revised on 08 Oct 2018 to 8.75% from 8.65%
  • 6 Month MCLR Rate is 8.95%. The rate was last revised on 08 Oct 2018 to 8.95% from 8.85%
  • 1 Year MCLR Rate is 9.20%. The rate was last revised on 08 Oct 2018 to 9.20% from 9.10%
  • 2 Year MCLR Rate is 9.20%. The rate was last revised on 08 Sep 2018 to 9.20% from 9.05%
  • 3 Year MCLR Rate is 9.35%. The rate was last revised on 08 Sep 2018 to 9.35% from 9.20%

IDFC Bank MCLR Rate Trend

Date IDFC Bank MCLR
10th Dec 18
Overnight : 8.50%
1 Month : 8.50%
3 Month : 8.75%
6 Month : 8.95%
1 Year : 9.20%
2 Year : 9.20%
3 Year : 9.35%
08th Nov 18
Overnight : 8.50%
1 Month : 8.50%
3 Month : 8.75%
6 Month : 8.95%
1 Year : 9.20%
2 Year : 9.20%
3 Year : 9.35%
08th Oct 18
Overnight : 8.50%
1 Month : 8.50%
3 Month : 8.75%
6 Month : 8.95%
1 Year : 9.20%
2 Year : 9.20%
3 Year : 9.35%
08th Sep 18
Overnight : 8.40%
1 Month : 8.40%
3 Month : 8.65%
6 Month : 8.85%
1 Year : 9.10%
2 Year : 9.20%
3 Year : 9.35%
08th Aug 18
Overnight : 8.20%
1 Month : 8.20%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.90%
2 Year : 9.05%
3 Year : 9.20%
08th Jul 18
Overnight : 8.20%
1 Month : 8.20%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.90%
2 Year : 9.05%
3 Year : 9.20%
08th Jun 18
Overnight : 8.20%
1 Month : 8.20%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.90%
2 Year : 9.05%
3 Year : 9.20%
08th May 18
Overnight : 8.20%
1 Month : 8.20%
3 Month : 8.45%
6 Month : 8.65%
1 Year : 8.80%
2 Year : 8.95%
3 Year : 9.10%
08th Apr 18
Overnight : 7.95%
1 Month : 8.00%
3 Month : 8.35%
6 Month : 8.55%
1 Year : 8.70%
2 Year : 8.80%
3 Year : 8.95%
08th Mar 18
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.75%
2 Year : 8.85%
3 Year : 9.00%
08th Feb 18
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.15%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.75%
08th Jan 18
Overnight : 7.80%
1 Month : 7.80%
3 Month : 8.10%
6 Month : 8.25%
1 Year : 8.50%
2 Year : 8.60%
3 Year : 8.70%
08th Dec 17
Overnight : 7.85%
1 Month : 7.90%
3 Month : 7.90%
6 Month : 8.25%
1 Year : 8.50%
2 Year : 8.60%
3 Year : 8.70%
01st Nov 17
Overnight : 7.85%
1 Month : 7.90%
3 Month : 7.90%
6 Month : 8.25%
1 Year : 8.50%
2 Year : 8.60%
3 Year : 8.70%
01st Oct 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.00%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.75%
01st Sep 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.00%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.75%
01st Aug 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.05%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.75%
01st Jul 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.05%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.75%
01st Jun 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st May 17
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st Apr 17
Overnight : 7.95%
1 Month : 7.95%
3 Month : 7.95%
6 Month : 8.35%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.70%
01st Mar 17
Overnight : 7.95%
1 Month : 8.15%
3 Month : 8.35%
6 Month : 8.50%
1 Year : 8.75%
2 Year : 8.80%
3 Year : 8.90%
01st Feb 17
Overnight : 7.95%
1 Month : 8.15%
3 Month : 8.35%
6 Month : 8.50%
1 Year : 8.75%
2 Year : 8.80%
3 Year : 8.90%
01st Jan 17
Overnight : 8.55%
1 Month : 8.55%
3 Month : 8.70%
6 Month : 8.80%
1 Year : 8.95%
2 Year : 9.00%
3 Year : 9.00%
01st Dec 16
Overnight : 8.75%
1 Month : 8.75%
3 Month : 8.95%
6 Month : 9.00%
1 Year : 9.15%
2 Year : 9.20%
3 Year : 9.25%
01st Sep 16
Overnight : 8.75%
1 Month : 8.75%
3 Month : 8.95%
6 Month : 9.10%
1 Year : 9.40%
2 Year : 9.40%
3 Year : 9.50%
  • Effective 1st April 2016, IDFC 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. IDFC Bank MCLR rates for different tenors range from 8.50% to 9.35%.
  • 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, IDFC 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, IDFC 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%, IDFC Bank 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 IDFC Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from IDFC Bank.
  • MCLR rate can be revised by IDFC Bank every month. However, it is not mandatory for IDFC Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

IDFC Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by IDFC 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 IDFC Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. IDFC 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 IDFC Bank at current 6 Month MCLR rate of 8.95% plus spread of 20 bps. So, the loan will initially be priced at 9.15%. 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 9.25% for the next period.

Compare MCLR Rate Movement



    Compare IDFC Bank MLCR Rates with Other Banks

    About IDFC Bank

    • IDFC Bank's registered office is located at KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai – 600031, India.
    • IDFC Bank's management is led by its CEO Dr. Rajiv B. Lall.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    IDFC Bank News - Dec 2018
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