Jammu And Kashmir Bank Base Rate, Jammu And Kashmir Bank MCLR Base Rate Past Trend

Current Jammu And Kashmir Bank MCLR Base Rate

Last Updated 24th Nov 2016
Tenure Base Rate, MCLR
Overnight 8.75%
1 Month 8.90%
3 Month 8.95%
6 Month 9.10%
1 Year 9.35%
2 Year 9.45%
3 Year 9.55%
Current MCLR base rate of Jammu And Kashmir Bank ranges from 8.75% to 9.55% depending on the reset frequency of the loan. Rates are revised every month.
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Jammu And Kashmir Bank Interest Rates
Home Loan Interest Rates 9.35% * Floating
Loan Against Property Rates 12.35% * Floating

Past Trend Base Rate of Jammu And Kashmir Bank

SBI 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
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 base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Jammu And Kashmir 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. Jammu And Kashmir Bank has different MCLR base rates ranging from 8.75% to 9.55% for different tenures

Changes in MCLR Base rate 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 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 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 Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.50% decreased by 0.35%
29th Sep 15: 0.5% repo cut by RBI
01st Jul 15 9.85% decreased by 0.4%
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
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
19th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
01st Nov 11 10.50% increased by 0.5%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.00% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
01st Jul 11 9.75% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
01st May 11 9.50% increased by 0.5%
17th Mar 11: 0.25% repo hike by RBI
01st Mar 11 9.00% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 8.75% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% increased by 0.25%
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
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.
  • Highest fixed deposit interest offered by Jammu And Kashmir Bank is 7.25% per annum on deposits.
  • Its current Base Rate is 9.50%, which was last revised on 05th Oct 15.
News - Dec 2016
26th Aug 16 Jammu and Kashmir bank will reduce its MCLR from August 26, 2016
Jammu and Kashmir Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 26th August 2016. The 1 year and 2 year MCLR has been reduced by 5 basis points to 9.4 and 9.5 percent respectively. The 3 month and 6 month MCLR has been reduced by 20 basis points to 9.05 and 9.2 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced by 35 and 25 basis points to 8.9 and 8.95 percent respectively. For borrowers who have taken a home loan from Jammu and Kashmir 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 home loan at fixed interest rate then your interest expense will remain unchanged.
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