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

IndusInd Bank MCLR Rate – Current Rate, Past Trend

Last Updated 22nd Mar 2017
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
Base rate - 10.60% Past Trend
Current MCLR of IndusInd Bank ranges from 8.40% to 9.10% depending on the reset frequency of the loan. Rates are revised every month.
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IndusInd Bank Interest Rates
Loan Against Property Rates 10.25% * Floating Detail
Personal Loan Interest Rates 11.49% * 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 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 9.10% 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 Base Rate
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
19th Oct 15 10.60% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
15th Jun 15 10.85% decreased by 0.15%
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
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
20th Aug 13 11.00% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
31st Oct 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
02nd Aug 11 10.50% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
21st Jun 11 10.00% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
09th May 11 9.75% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
21st Mar 11 9.25% increased by 0.5%
17th Mar 11: 0.25% repo hike by RBI
04th Mar 11 8.75% increased by 0.5%
31st Jan 11 8.25% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
10th Jan 11 8.00% increased by 0.25%
26th Nov 10 7.75% increased by 0.75%
02nd Nov 10: 0.25% repo hike by RBI
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

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 2401, General Thimmayya Road, Cantonment, Pune-411001, Maharashtra India .
  • 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 10.60%, which was last revised on 19th Oct 15.
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News - Mar 2017
21st Mar 17 IndusInd Bank raises Rs. 1,000 crore via bonds
Private sector lender IndusInd Bank has raised Rs 1,000 crore by issuing bonds compliant with Basel III standards. The boards of directors have passed the resolution for issuance of Basel III compliant bonds towards non-equity additional tier I capital for cash aggregating to Rs 1,000 crore on private placement. The bonds have been rated stable AA both by Crisil and India Ratings and Research.
13th Feb 17 IndusInd Bank plans to restrict its unsecured lending portfolio to 5 percent of its total portfolio
IndusInd Bank is planning to expand its credit card portfolio while capping the exposure of unsecured loan book at 5 percent. The bank expects to grow its credit card portfolio in tandem with the expected growth of 30 percent in its overall loan disbursements.
11th Jan 17 IndusInd Bank registers a 29 percent growth in its net profit in third quarter of FY17
IndusInd Bank has registered a 29 percent increase in its net profit reported at Rs. 750 crore for October to December quarter in FY17. The bank achieved a growth of 25 percent in its retail and corporate loan book in the third quarter of FY17. The bank did not experience any significant slowdown in other retail and SME loan segments including loan against property, business and vehicle loan.
26th Aug 16 IndusInd has reduced its 1 year MCLR from 26th August, 2016
IndusInd Bank has reduced its 1 year Marginal Cost of Fund Based Lending Rate (MCLR) by 15 basis point (bps) to 9.75 percent from 9.9 percent. The change are effective from 26th August, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR. For borrowers who have taken a home loan from IndusInd Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken the home loan at fixed interest rate then your interest expense will remain unchanged.
24th Aug 16 IndusInd Bank ties up with IBM for improved customer engagement services
IndusInd Bank has tied up with IBM to use its cloud commerce solutions to convert customer arrangements and boost its cross-sell platforms. In an agreement of three years, IBM will provide a cloud and predictive analytics based multi-channel campaign managing solution that enables IndusInd Bank to build up its online banking presence while improving the product holding per customer. Using customer behavior analysis and real-time contextual advertising, banks can make sure that customers relating with the bank on any channel will receive relevant and timely communications.
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