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Jammu And Kashmir Bank MCLR Rates, Jammu And Kashmir Bank Base Rate – Oct 2017

Last Updated 28th Sep 2017

Jammu And Kashmir Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Jammu And Kashmir Bank ranges from 7.75% to 9.15% depending on the reset frequency of the loan. Rates are revised every month.

Jammu And Kashmir Bank MCLR, Base Rate Tenure
7.75% Overnight
8.00% 1 Month
8.15% 3 Month
8.50% 6 Month
8.90% 1 Year
9.10% 2 Year
9.15% 3 Year
Base rate - 9.50% Past Trend
Jammu And Kashmir Bank Interest Rates
Home Loan Interest Rates 8.65% * Floating Detail
Loan Against Property Rates 12.20% * Floating Detail
Fixed Deposit Interest Rates 5.00% to 6.75% * Detail

Past Trend MCLR Rate of Jammu And Kashmir Bank

Jammu And Kashmir 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
10th Sep 17
7.75%
8.00%
8.15%
8.50%
8.90%
9.10%
9.15%
-
10th Aug 17
7.75%
8.00%
8.15%
8.50%
8.90%
9.10%
9.15%
-
10th Jul 17
7.85%
8.00%
8.15%
8.50%
8.90%
9.10%
9.15%
-
10th Jun 17
7.85%
8.00%
8.15%
8.50%
8.90%
9.10%
9.15%
-
10th May 17
8.15%
8.15%
8.15%
8.50%
8.65%
8.85%
8.95%
-
10th Apr 17
8.10%
8.10%
8.10%
8.45%
8.60%
8.80%
8.90%
-
10th Apr 17
8.10%
8.10%
8.10%
8.45%
8.60%
8.80%
8.90%
-
10th Mar 17
8.10%
8.10%
8.10%
8.45%
8.70%
8.80%
8.90%
-
10th Feb 17
8.10%
8.10%
8.10%
8.45%
8.70%
8.80%
8.90%
-
10th Jan 17
8.20%
8.25%
8.30%
8.55%
8.80%
8.90%
9.00%
-
10th Oct 16
8.75%
8.90%
8.95%
9.10%
9.35%
9.45%
9.55%
-
26th Aug 16
8.90%
8.95%
9.05%
9.20%
9.40%
9.50%
9.60%
-
01st Jul 16
9.25%
9.30%
9.35%
9.40%
9.45%
9.55%
9.60%
-
01st Apr 16
9.25%
9.30%
9.35%
9.40%
9.45%
9.55%
9.60%
-

Jammu And Kashmir Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Jammu And Kashmir 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. Jammu And Kashmir Bank has different MCLR base rates ranging from 7.75% to 9.15% for different tenures

Changes in MCLR of Jammu And Kashmir Bank

  • MCLR rate can be revised by Jammu And Kashmir Bank every month
  • Note that it is not mandatory for Jammu And Kashmir Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Jammu And Kashmir Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Jammu And Kashmir 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 Jammu And Kashmir 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 Jammu And Kashmir 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 Jammu And Kashmir Bank Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
02nd Aug 17 0.25%
08th Jun 17 0%
06th Apr 17 0%
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
05th Oct 15 9.50% 0.35%
29th Sep 15 0.5%
01st Jul 15 9.85% 0.4%
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%
03rd May 13 0.25%
19th Mar 13 0.25%
19th Feb 13 10.25% 0.25%
29th Jan 13 0.25%
17th Apr 12 0.5%
01st Nov 11 10.50% 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 10.00% 0.25%
26th Jul 11 0.5%
01st Jul 11 9.75% 0.25%
16th Jun 11 0.25%
03rd May 11 0.5%
01st May 11 9.50% 0.5%
17th Mar 11 0.25%
01st Mar 11 9.00% 0.25%
25th Jan 11 0.25%
01st Jan 11 8.75% 0.25%
02nd Nov 10 0.25%
01st Oct 10 8.50% 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 8.25%

Jammu And Kashmir Bank Base Rate Vs. RBI Repo Rate Trend

About Jammu And Kashmir Bank

  • Jammu And Kashmir Bank is a Private Bank in India with 201 branches, 883 ATM's and 9,283 employees across the country.
  • Jammu And Kashmir Bank's registered office is located at Corporate Headquarter, M.A.Road, Srinagar Jammu & Kashmir-190001 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 2,651 crs. and Standalone net profit of Rs. 509 crs. Jammu And Kashmir Bank reported total deposits of Rs. 65,756 crs and total advances of Rs. 44,586 crs.
  • Jammu And Kashmir Bank's management is led by its CEO Mr.Mushtaq Ahmad.
  • Its current Base Rate is 9.50%, which was last revised on 05th Oct 15.
Jammu And Kashmir Bank Base Rate, PLR
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