Indian Bank Base Rate, Indian Bank MCLR Base Rate Past Trend

Current Indian Bank MCLR Base Rate

Last Updated 30th Nov 2016
Tenure Base Rate, MCLR
Overnight 9.15%
1 Month 9.20%
3 Month 9.25%
6 Month 9.30%
1 Year 9.35%
3 Year 9.50%
5 Year 9.65%
Current MCLR base rate of Indian Bank ranges from 9.15% to 9.65% depending on the reset frequency of the loan. Rates are revised every month.
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Indian Bank Interest Rates
Home Loan Interest Rates 9.55% * Floating
Loan Against Property Rates 13.80% * Floating
Personal Loan Interest Rates 14.50% *
Fixed Deposit Interest Rates 4.00% to 6.50% *

Past Trend Base Rate of Indian Bank

SBI 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
07th Oct 16
9.15%
9.20%
9.25%
9.30%
9.35%
-
9.50%
9.65%
07th Jul 16
9.20%
9.25%
9.30%
9.35%
9.45%
-
9.55%
9.70%
01st Apr 16
9.20%
9.25%
9.30%
9.35%
9.45%
-
9.55%
9.70%

Indian Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Indian 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. Indian Bank has different MCLR base rates ranging from 9.15% to 9.65% for different tenures

Changes in MCLR Base rate of Indian Bank

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

Indian Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Indian 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 Indian 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 Indian 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 Indian 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
07th Oct 15 9.65% decreased by 0.3%
29th Sep 15: 0.5% repo cut by RBI
08th Jun 15 9.95% decreased by 0.3%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
01st Apr 14 10.25% increased by 0.05%
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
09th Feb 13 10.20% decreased by 0.3%
29th Jan 13: 0.25% repo cut by RBI
01st May 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 0.5%
26th Jul 11: 0.5% repo hike by RBI
13th Jul 11 10.25% increased by 0.25%
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
01st Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 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%

Indian Bank Base Rate Vs. RBI Repo Rate Trend

About Indian Bank

  • Indian Bank is a Public Sector Bank in India with 2,412 branches, 2,344 ATM's and 20,294 employees across the country.
  • Indian Bank's registered office is located at 66, Rajaji Salai, Chennai-600001.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,471 crs. and Standalone net profit of Rs. 1,005 crs. Indian Bank reported total deposits of Rs. 169,225 crs and total advances of Rs. 125,865 crs.
  • Indian Bank's management is led by its CEO Mr. Mahesh Kumar Jain.
  • Highest fixed deposit interest offered by Indian Bank is 6.50% per annum on deposits.
  • Its current Base Rate is 9.65%, which was last revised on 07th Oct 15.
News - Dec 2016
16th Sep 16 Indian Bank organises loan mela, sets a target of Rs. 60 crore
Indian Bank will organise a mega loan mela at its regional office located near Arivoli Park and at five other places of the district on 17 and 18 Sept, 2016. The purpose of these camps is to disburse loans to the tune of Rs. 60 crore. The bank will give housing loan, MSME loans, vehicle loan for business projects, Pradhan Mantri Mudra Loans and loans for green field enterprise under Stand Up India scheme to SC/ST applicants.
02nd Aug 16 Indian Bank Q1 net profit zooms 43 per cent to Rs 307 crore
Indian Bank reported a 42.77 per cent increase in net profit at Rs 307.36 crore for the first quarter ended June 30 after the rise in net interest income and fall in expenses. Total income for the bank also rose to Rs 4,512.96 crore during the June quarter from Rs 4,494.53 crore in the same period during previous fiscal year. The Net NPA of the bank rose to 4.48 per cent at the end of June 2016. The bank reported higher provisioning at Rs 416 crore in the first quarter of current fiscal FY17.
02nd Aug 16 Indian Bank Q1 profit rose by 43 percent despite high tax cost
As per the results for Q1FY17, Indian Bank reported 42.8 percent increase in its Net Profit to Rs 307.4 crore. The increase on Net Profit was largely attributable to an increase in Other Income, Operating Profit and stable provisions. The growth in Net Profit was achieved despite higher tax cost. The Net Interest Income was reported at Rs 1,236.32 crore, an increase of 10.4 percent on a yoy basis. Similarly, Other Income (Non Interest Income) was reported at Rs 441.7 cror ean increase of 17.6 percent on a yoy basis.. Asset quality showed mild signs of weakening as Gross NPAs as a percentage of Gross Advances increased by 31 basis points to 6.97 percent and Net NPAs a s a % of Net Advances increased by 28 basis points to 4.48 percent when compared on a sequential basis.
13th May 16 Indian Bank Revises Interest Rates On Home, Car Loans
Indian Bank has reduced the interest rates on home and vehicle loans by up to 0.20 per cent with immediate effect. As per the revised rate of interest, home loans for up to Rs 75 lakh, the interest rates has been revised from 9.65 per cent to 9.55 per cent while for loans above Rs 75 lakh it has been reduced to 9.75 per cent from 9.90 per cent. For loans towards purchase of new cars, the interest rates were cut to 9.95 per cent from 10.15 per cent.
09th May 16 Indian Bank revises interest rates on term deposits
Indian Bank has revised interest rates on term deposits with immediate effect. The bank announced an upward revision of interest rate on term deposits for one year by 15 basis points. It also reduced interest rates for a few other tenures by 25-50 basis points with immediate effect.
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