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Jana Small Finance Bank MCLR Rates, Jana Small Finance Bank Base Rate – Oct 2021

Jana Small Finance Bank MCLR Rate

Last Updated 08th Oct 2021

Current MCLR rate of Jana Small Finance Bank ranges from 9.90% to 11.43% varying by reset frequency of the loan. Jana Small Finance Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR Jana Finance Bank Rate Today
Overnight 9.94%
1 Month 9.90%
3 Month 9.91%
6 Month 10.04%
1 Year 10.38%
2 Year 10.97%
3 Year 11.43%
Jana Finance Bank Base Rate -
Apply for Home Loan @ 6.50% *

Jana Small Finance Bank Interest Rates

Jana Small Finance Bank offers the following loans to its customer on these rates currently:

Fixed Deposit Interest Rates 2.50% to 6.75% Detail
Saving Account Interest Rates 3.50% to 7.25% Detail
RD Interest Rates 5.50% to 6.75% Detail

MCLR of Jana Small Finance Bank

Jana Small Finance Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Jana Small Finance Bank as announced on 08 Oct 2021 are:

  • Overnight MCLR Rate is 9.94%.
  • 1 Month MCLR Rate is 9.90%.
  • 3 Month MCLR Rate is 9.91%.
  • 6 Month MCLR Rate is 10.04%.
  • 1 Year MCLR Rate is 10.38%.
  • 2 Year MCLR Rate is 10.97%.
  • 3 Year MCLR Rate is 11.43%.
  • 5 Year MCLR Rate is 0.00%.

Jana Small Finance Bank MCLR Rate Trend

Date Jana Small Finance Bank MCLR
08th Oct 21 Overnight : 9.94%
1 Month : 9.90%
3 Month : 9.91%
6 Month : 10.04%
1 Year : 10.38%
2 Year : 10.97%
3 Year : 11.43%
08th Oct 21 Overnight : 9.94%
1 Month : 9.90%
3 Month : 9.91%
6 Month : 10.04%
1 Year : 10.38%
2 Year : 10.97%
3 Year : 11.43%
08th Sep 21 Overnight : 10.10%
1 Month : 9.98%
3 Month : 9.97%
6 Month : 10.15%
1 Year : 10.56%
2 Year : 11.18%
3 Year : 11.66%
08th Jun 21 Overnight : 10.45%
1 Month : 10.20%
3 Month : 10.06%
6 Month : 10.22%
1 Year : 10.70%
2 Year : 11.39%
3 Year : 11.88%
08th May 21 Overnight : 10.26%
1 Month : 10.18%
3 Month : 10.16%
6 Month : 10.29%
1 Year : 10.68%
2 Year : 11.34%
3 Year : 11.84%
08th Apr 21 Overnight : 9.90%
1 Month : 9.93%
3 Month : 10.04%
6 Month : 10.24%
1 Year : 10.63%
2 Year : 11.28%
3 Year : 11.80%
08th Feb 21 Overnight : 9.86%
1 Month : 9.91%
3 Month : 10.01%
6 Month : 10.17%
1 Year : 10.45%
2 Year : 10.96%
3 Year : 11.39%
08th Feb 21 Overnight : 9.86%
1 Month : 9.91%
3 Month : 10.01%
6 Month : 10.17%
1 Year : 10.45%
2 Year : 10.96%
3 Year : 11.39%
08th Jan 21 Overnight : 10.70%
1 Month : 10.94%
3 Month : 11.13%
6 Month : 11.23%
1 Year : 11.47%
2 Year : 11.99%
3 Year : 12.46%
08th Dec 20 Overnight : 10.71%
1 Month : 10.88%
3 Month : 11.08%
6 Month : 11.25%
1 Year : 11.52%
2 Year : 12.05%
3 Year : 12.52%
08th Nov 20 Overnight : 10.91%
1 Month : 10.89%
3 Month : 11.00%
6 Month : 11.17%
1 Year : 11.48%
2 Year : 12.01%
3 Year : 12.46%
  • Effective 1st April 2016, Jana Small Finance Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Jana Small Finance Bank MCLR rates for different tenors range from 9.90% to 11.43%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Jana Small Finance Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Jana Small Finance Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Jana Finance Bank may decide to cut its MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Jana Small Finance Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Jana Small Finance Bank.
  • MCLR rate can be revised by Jana Small Finance Bank every month. However, it is not mandatory for Jana Small Finance Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

Compare Jana Small Finance Bank MCLR Rates with Other Banks

FAQs

What is the MCLR of Jana Small Finance Bank?

Jana Small Finance Bank MCLR ranges between 9.90% to 11.43% for a tenure ranging between 1 month to 5 years.

What is the current Jana Small Finance Bank MCLR rate?

Current Jana Small Finance Bank, overnight tenure is 9.94%, 1 month mclr is 9.90% , three month mclr is 9.91%, six month mclr is 10.04%, one year tenure is 10.38% and two year tenure is 10.97%.

What is Jana Small Finance Bank base rate?

Currently, Jana Small Finance Bank offers loans at a base rate of 0.00%.


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Jana Finance Bank News - Oct 2021
  • 2021-10-08 : Jana Small Finance Bank Revises MCLR Rates
    Jana Small Finance has revised MCLR rates for overnight to 9.94%. The bank has also revised the one-month MCLR and three months MCLR to 9.90% and 9.91%, respectively.
  • 2021-04-14 : Jana Small Finance Bank revised its MCLR
    Jana Small Finance Bank revised its MCLR, With effect from 8 April 2021. The overnight and one-month MCLR is 9.90% and 9,93%. The MCLR for three months and six months is 10.04% and 10.24%, respectively. Further, the MCLR for long tenors of one year, two years and three years is 10.63%, 11.28% and 11.80%, respectively.
  • 2020-10-15 : Revised MCLR for Jana Small Finance Bank
    Jana Small Finance Bank revised its MCLR, With effect from 8 October 2020. The overnight and one-month MCLR is 10.86% and 10.87%. The MCLR for three months and six months is 10.99% and 11.18%, respectively. Further, the MCLR for long tenors of one year, two years and three years is 11.52%, 12.10% and 12.58, respectively.
  • 2020-04-09 : New MCLR for Jana Small Finance Bank
    With effect from 9 April 2020, Jana Small Finance Bank revised its MCLR. The overnight and one-month MCLR is 11.41% and 12.18%. The MCLR for three months and six months is 12.23% and 11.60%, respectively. Further, the MCLR for long tenors of one year, two years and three years is 11.83%, 12.32% and 12.73, respectively.
  • 2020-03-11 : New lending rates for Jana Small Finance Bank
    Jana Small Finance Bank changed its MCLR. The overnight and one-month MCLR rate is 11.70% and 11.73%. MCLR for short tenors of three months and six months is 11.78% and 11.85%. Further, the lending rate for one year, two years and three years is 12%, 12.26% and 12.48%. The revised rates have been in effect from 7 March 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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