IndusInd Bank Base Rate, IndusInd Bank MCLR Base Rate Past Trend

Current IndusInd Bank MCLR Base Rate

Last Updated 08th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 8.80%
1 Month 8.85%
3 Month 9.20%
6 Month 9.45%
1 Year 9.60%
Current MCLR base rate of IndusInd Bank ranges from 8.80% to 9.60% 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 10.75% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 4.00% to 7.15% * Detail

Past Trend Base Rate of IndusInd Bank

IndusInd Bank 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
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 base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, IndusInd 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. IndusInd Bank has different MCLR base rates ranging from 8.80% to 9.60% for different tenures

Changes in MCLR Base rate 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 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 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
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.
  • Highest fixed deposit interest offered by IndusInd Bank is 7.15% per annum on deposits.
  • Its current Base Rate is 10.60%, which was last revised on 19th Oct 15.
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News - Dec 2016
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.
12th Jul 16 IndusInd Bank Q1 net up 26% at Rs 661.38 cr
IndusInd Bank posted 26 per cent rise in net profit for the quarter ended June 30. The bank posted net profit of Rs 661.38 crore for the quarter, compared with Rs 525.04 crore in the corresponding quarter of the previous financial year. The bank would continue its focus on the digital medium. It launched its Finger Print mobile banking during this quarter.
11th Jul 16 IndusInd Bank reports a 26 percent increase in its Net Profit
As per the results for Q1FY17, IndusInd Bank reported 26 percent increase in Net Profit to Rs 661 crore. This was supported by a strong increase in its Net Interest Income. The Net Interest Income increased by 28 percent and the advances showed a growth of 30 percent year on year in June quarter. Asset quality weakened mildly in Q1FY17 as Gross NPAs increased to 0.91 percent of total advances, up from 0.87 percent as on March 2016 and the Net NPA stood at 0.38 percent in June quarter compared to 0.36 percent as on March 2016.
24th May 16 IndusInd Bank and Reliance General Insurance Tie up for Distribution of Insurance Products
IndusInd Bank has recently signed a Corporate Agency Agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on Bancassurance post the recent multi bank partner guidelines issued by IRDAI.
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