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IndusInd Bank MCLR Rates, IndusInd Bank Base Rate – Jul 2017

Last Updated 12th Jul 2017

IndusInd Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of IndusInd Bank ranges from 8.40% to 9.30% depending on the reset frequency of the loan. Rates are revised every month.

IndusInd Bank MCLR, Base Rate Tenure
8.40% Overnight
8.45% 1 Month
8.75% 3 Month
9.00% 6 Month
9.10% 1 Year
9.30% 2 Year
Base rate - 10.55% Past Trend
IndusInd Bank Interest Rates
Loan Against Property Rates 10.25% * Floating Detail
Personal Loan Interest Rates 11.99% * Detail
Fixed Deposit Interest Rates 4.00% to 7.15% * Detail

Past Trend MCLR Rate of IndusInd Bank

IndusInd Bank MCLR 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
17th Jun 17
8.40%
8.45%
8.75%
9.00%
9.10%
9.30%
-
-
17th May 17
8.40%
8.45%
8.75%
9.00%
9.10%
9.20%
-
-
17th Apr 17
8.40%
8.45%
8.75%
9.00%
9.10%
9.15%
-
-
17th Mar 17
8.40%
8.45%
8.75%
9.00%
9.10%
-
-
-
17th Feb 17
8.40%
8.45%
8.75%
9.00%
9.10%
-
-
-
17th Jan 17
8.40%
8.45%
8.75%
9.00%
9.10%
-
-
-
17th Dec 16
8.75%
8.80%
9.10%
9.35%
9.45%
-
-
-
17th Nov 16
8.80%
8.85%
9.20%
9.45%
9.60%
-
-
-
24th Oct 16
8.85%
8.90%
9.25%
9.50%
9.65%
-
-
-
29th Sep 16
8.95%
9.00%
9.35%
9.60%
9.75%
-
-
-
26th Aug 16
8.95%
9.00%
9.35%
9.60%
9.75%
-
-
-
20th Jul 16
8.95%
9.00%
9.35%
9.60%
9.90%
-
-
-
15th Jun 16
9.10%
9.15%
9.35%
9.60%
9.90%
-
-
-
23rd May 16
9.15%
9.20%
9.40%
9.65%
9.95%
-
-
-
29th Apr 16
9.20%
9.25%
9.45%
9.70%
10.00%
-
-
-

IndusInd Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, IndusInd 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. IndusInd Bank has different MCLR base rates ranging from 8.40% to 9.30% for different tenures

Changes in MCLR of IndusInd Bank

  • MCLR rate can be revised by IndusInd Bank every month
  • Note that 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

IndusInd Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by IndusInd 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 IndusInd 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 IndusInd 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 10.00%. This loan will initially be priced at 10.5%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.75%, the loan will be priced at 10.25% for the next year

Past trend of IndusInd Bank Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
08th Feb 17 0%
17th Jan 17 10.55% 0.05%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
19th Oct 15 10.60% 0.25%
29th Sep 15 0.5%
15th Jun 15 10.85% 0.15%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
20th Aug 13 11.00% 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
17th Apr 12 0.5%
31st Oct 11 10.75% 0.25%
25th Oct 11 0.25%
16th Sep 11 0.25%
02nd Aug 11 10.50% 0.5%
26th Jul 11 0.5%
21st Jun 11 10.00% 0.25%
16th Jun 11 0.25%
09th May 11 9.75% 0.5%
03rd May 11 0.5%
21st Mar 11 9.25% 0.5%
17th Mar 11 0.25%
04th Mar 11 8.75% 0.5%
31st Jan 11 8.25% 0.25%
25th Jan 11 0.25%
10th Jan 11 8.00% 0.25%
26th Nov 10 7.75% 0.75%
02nd Nov 10 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%

IndusInd Bank Base Rate Vs. RBI Repo Rate Trend

About IndusInd Bank

  • IndusInd Bank is a Private Bank in India with 801 branches, 1,487 ATM's and 19,121 employees across the country.
  • IndusInd Bank's registered office is located at Wagle Estate, Thane - 400604.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 3,420 crs. and Standalone net profit of Rs. 1,794 crs. IndusInd Bank reported total deposits of Rs. 74,134 crs and total advances of Rs. 68,788 crs.
  • IndusInd Bank's management is led by its CEO Mr.Romesh Sobti.
  • Its current Base Rate is 10.55%, which was last revised on 17th Jan 17.
Indusind Bank Base Rate, PLR
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