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IndusInd Bank MCLR Rates, IndusInd Bank Base Rate – Jul 2021

IndusInd Bank MCLR Rate

Last Updated 25th Jun 2021

Current MCLR rate of IndusInd Bank ranges from 8.15% to 8.95% varying by reset frequency of the loan. IndusInd Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR IndusInd Bank Rate Today
Overnight 8.15%
1 Month 8.20%
3 Month 8.30%
6 Month 8.50%
1 Year 8.60%
2 Year 8.90%
3 Year 8.95%
IndusInd Bank Base Rate 10.20%
Apply for Home Loan @ 6.65% *

IndusInd Bank Interest Rates

IndusInd Bank offers the following loans to its customer on these rates currently:

Loan Against Property Rates 8.65% * Floating Detail
Personal Loan Interest Rates 10.49% to 20.00% Detail
Car Loan Interest Rates 8.00% to 18.00% Detail
Business Loan Interest Rates 13.00% to 29.00% Detail
Gold Loan Interest Rates 11.50% to 16.00% Detail
Fixed Deposit Interest Rates 2.75% to 6.50% Detail
RD Interest Rates 7.25% to 8.00% Detail

MCLR of IndusInd Bank

IndusInd Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of IndusInd Bank as announced on 22 Jun 2021 are:

  • Overnight MCLR Rate is 8.15%.
  • 1 Month MCLR Rate is 8.20%.
  • 3 Month MCLR Rate is 8.30%.
  • 6 Month MCLR Rate is 8.50%.
  • 1 Year MCLR Rate is 8.60%.
  • 2 Year MCLR Rate is 8.90%.
  • 3 Year MCLR Rate is 8.95%.
  • 5 Year MCLR Rate is 0.00%.

IndusInd Bank MCLR Rate Trend

Date IndusInd Bank MCLR
22nd Jun 21 Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.90%
3 Year : 8.95%
22nd May 21 Overnight : 8.20%
1 Month : 8.25%
3 Month : 8.30%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.90%
3 Year : 8.95%
22nd Apr 21 Overnight : 8.20%
1 Month : 8.25%
3 Month : 8.30%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.90%
3 Year : 8.95%
22nd Feb 21 Overnight : 8.25%
1 Month : 8.30%
3 Month : 8.35%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.90%
3 Year : 8.95%
22nd Jan 21 Overnight : 8.30%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.65%
2 Year : 8.90%
3 Year : 8.95%
22nd Dec 20 Overnight : 8.30%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.55%
1 Year : 8.65%
2 Year : 8.90%
3 Year : 8.95%
22nd Oct 20 Overnight : 8.40%
1 Month : 8.45%
3 Month : 8.55%
6 Month : 8.65%
1 Year : 8.75%
2 Year : 8.90%
3 Year : 8.95%
22nd Sep 20 Overnight : 8.30%
1 Month : 8.35%
3 Month : 8.65%
6 Month : 8.80%
1 Year : 8.85%
2 Year : 8.90%
3 Year : 8.95%
  • Effective 1st April 2016, IndusInd 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. IndusInd Bank MCLR rates for different tenors range from 8.15% to 8.95%.
  • 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, IndusInd 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, IndusInd 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%, IndusInd Bank may decide to cut its 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 IndusInd Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from IndusInd Bank.
  • MCLR rate can be revised by IndusInd Bank every month. However, it is not mandatory for IndusInd Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

Compare IndusInd Bank MCLR Rates with Other Banks

About IndusInd Bank

  • IndusInd Bank's registered office is located at PO Box 9421, Chakala MIDC, Andheri (E), Mumbai - 400 093 .
  • IndusInd Bank's management is led by its CEO Mr. Sumant Kathpalia.
  • Its current Base Rate is 10.20%, which was last revised on 01st Mar 21.

FAQs

What is the MCLR of IndusInd Bank?

IndusInd Bank MCLR ranges between 8.15% to 8.95% for a tenure ranging between 1 month to 5 years.

What is the current IndusInd Bank MCLR rate?

Current IndusInd Bank, overnight tenure is 8.15%, 1 month mclr is 8.20% , three month mclr is 8.30%, six month mclr is 8.50%, one year tenure is 8.60% and two year tenure is 8.90%.

What is IndusInd Bank base rate?

Currently, IndusInd Bank offers loans at a base rate of 10.20%.


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IndusInd Bank News - Jul 2021
  • 2021-06-22 : IndusInd Bank revised its Marginal cost of lending rates
    IndusInd Bank revised its MCLR. The overnight, one-month and three months rate is 8.15%, 8.20% and 8.30%, respectively. The six months MCLR is 8.50%. MCLR for long tenors of 1 year is 8.60%, for two years it is 8.90%, and for three years it is 8.95%. The revised rates are effective from 22 June 2021.
  • 2021-04-26 : Revised MCLR for IndusInd
    With effect from 22 April 2021, IndusInd Bank revised its MCLR. The overnight, one-month and three months rate is 8.20%, 8.25% and 8.30%, respectively. The six months MCLR is 8.50%. MCLR for long tenors of 1 year is 8.60%, for two years it is 8.90%, and for three years it is 8.95%.
  • 2021-03-24 : IndusInd revised its Marginal cost of lending rates
    IndusInd Bank revised its MCLR. The overnight, one-month and three months rate is 8.20%, 8.25% and 8.30%, respectively. The six months MCLR is 8.50%. MCLR for long tenors of 1 year is 8.60%, for two years it is 8.90%, and for three years it is 8.95%. The revised rates are effective from 22 March 2021.
  • 2021-01-29 : Revised MCLR for IndusInd Bank
    With effect from 22 january 2021, IndusInd Bank changed its MCLR. The overnight, one-month and three months rate is 8.30%, 8.35% and 8.40%, respectively. The six months MCLR is 8.55%. MCLR for long tenors of 1 year is 8.65%, for two years it is 8.90%, and for three years it is 8.95%.
  • 2020-05-22 : IndusInd Bank revised its MCLR
    IndusInd Bank changed its MCLR. The overnight, one-month and three months rate is 8.70%, 8.75% and 9.05%, respectively. The six months MCLR is 9.20%. MCLR for long tenors of 1 year is 9.25, for two years it is 9.30%, and for three years it is 9.35%. The revised rates are effective from 22 May 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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