Kuchh Baat Aapke Interest Ki

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

Last Updated 26th Apr 2017

Indian Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Indian Bank ranges from 8.40% to 8.90% depending on the reset frequency of the loan. Rates are revised every month.

Indian Bank MCLR, Base Rate Tenure
8.40% Overnight
8.45% 1 Month
8.50% 3 Month
8.55% 6 Month
8.60% 1 Year
8.75% 3 Year
8.90% 5 Year
Base rate - 9.65% Past Trend
Apply Loan Online
Indian Bank Interest Rates
Home Loan Interest Rates 9.65% * Floating Detail
Loan Against Property Rates 13.80% * Floating Detail
Personal Loan Interest Rates 14.50% * Detail
Fixed Deposit Interest Rates 4.00% to 6.50% * Detail

Past Trend MCLR Rate of Indian Bank

Indian Bank MCLR Rate History

Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
2 Year
3 Year
5 Year
07th Jan 17
07th Oct 16
07th Jul 16
01st Apr 16

Indian Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Indian 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. Indian Bank has different MCLR base rates ranging from 8.40% to 8.90% for different tenures

Changes in MCLR 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 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 RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
07th Oct 15 9.65% 0.3%
29th Sep 15 0.5%
08th Jun 15 9.95% 0.3%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
01st Apr 14 10.25% 0.05%
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%
09th Feb 13 10.20% 0.3%
29th Jan 13 0.25%
01st May 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% 0.5%
26th Jul 11 0.5%
13th Jul 11 10.25% 0.25%
16th Jun 11 0.25%
05th May 11 10.00% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
01st Feb 11 9.50% 0.5%
25th Jan 11 0.25%
13th Dec 10 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%

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.
  • Its current Base Rate is 9.65%, which was last revised on 07th Oct 15.

Why MyLoanCare???

Nowadays, banks give various offers on to give the best rates to individuals. To get with lowest interest rate and lowest EMI, compare new rates and offers of all banks at MyLoanCare. You can do rates comparison, check your eligibility, apply online and get the cheapest rate on . MyLoanCare helps you throughout the loan process from the day you apply to the time you get complete disbursement. You can even track your loan status after getting registered with us. MyLoanCare make it easy for you to get hassle free with ultimate cashback and refer and earn benefits. So, apply for today and enjoy the benefits.

News - Apr 2017
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.