Karnataka Bank MCLR Rates, Karnataka Bank Base Rate – Aug 2017
Last Updated 18th Aug 2017
Karnataka Bank MCLR Rate – Current Rate, Past Trend
Current MCLR of Karnataka Bank ranges from 8.35% to 8.90% depending on the reset frequency of the loan. Rates are revised every month.
| Karnataka Bank MCLR, Base Rate | Tenure |
|---|---|
| 8.35% | Overnight |
| 8.40% | 1 Month |
| 8.45% | 3 Month |
| 8.50% | 6 Month |
| 8.90% | 1 Year |
| Base rate - 10.25% | Past Trend |
Karnataka Bank Interest Rates
| Home Loan Interest Rates | 9.50% * Floating | Detail |
| Loan Against Property Rates | 13.20% * Floating | Detail |
| Fixed Deposit Interest Rates | 3.50% to 7.00% * | Detail |
Past Trend MCLR Rate of Karnataka Bank
Karnataka Bank MCLR Rate History
Revised
Date
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
MCLR
2 Year
MCLR
MCLR
3 Year
MCLR
MCLR
5 Year
MCLR
MCLR
01st Jun 17
8.35%
8.40%
8.45%
8.50%
8.90%
-
-
-
01st May 17
8.40%
8.45%
8.55%
8.70%
8.90%
-
-
-
01st Apr 17
8.40%
8.45%
8.55%
8.70%
8.90%
-
-
-
01st Oct 16
8.90%
9.00%
9.05%
9.10%
9.15%
-
-
-
01st Apr 16
8.95%
9.05%
9.10%
9.15%
9.20%
-
-
-
Karnataka Bank MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Karnataka 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. Karnataka Bank has different MCLR base rates ranging from 8.35% to 8.90% for different tenures
Changes in MCLR of Karnataka Bank
- MCLR rate can be revised by Karnataka Bank every month
- Note that it is not mandatory for Karnataka Bank to revise its rate every month and it may choose to retain the same rate for a longer period
Karnataka Bank home loan interest rate and MCLR
- Every floating rate loan sanctioned by Karnataka 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 Karnataka 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 Karnataka 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 9.20%. This loan will initially be priced at 9.7%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.95%, the loan will be priced at 9.45% for the next year
Past trend of Karnataka Bank Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 02nd Aug 17 | 0.25% | |
| 04th Oct 16 | 0.25% | |
| 05th Apr 16 | 0.25% | |
| 05th Oct 15 | 10.25% 0.25% | |
| 29th Sep 15 | 0.5% | |
| 02nd Jun 15 | 0.25% | |
| 01st Jun 15 | 10.50% 0.25% | |
| 04th Mar 15 | 0.25% | |
| 15th Jan 15 | 0.25% | |
| 28th Jan 14 | 0.25% | |
| 29th Oct 13 | 0.25% | |
| 20th Sep 13 | 0.25% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 29th Jan 13 | 0.25% | |
| 10th Nov 12 | 10.75% 0.25% | |
| 17th Apr 12 | 0.5% | |
| 25th Oct 11 | 0.25% | |
| 16th Sep 11 | 0.25% | |
| 03rd Aug 11 | 11.00% 0.5% | |
| 26th Jul 11 | 0.5% | |
| 04th Jul 11 | 10.50% 0.25% | |
| 16th Jun 11 | 0.25% | |
| 23rd May 11 | 10.25% 0.5% | |
| 03rd May 11 | 0.5% | |
| 17th Mar 11 | 0.25% | |
| 14th Feb 11 | 9.75% 0.75% | |
| 25th Jan 11 | 0.25% | |
| 02nd Nov 10 | 0.25% | |
| 01st Nov 10 | 9.00% 0.25% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 8.75% |
Karnataka Bank Base Rate Vs. RBI Repo Rate Trend
About Karnataka Bank
- Karnataka Bank is a Private Bank in India with 675 branches, 1,000 ATM's and 7,382 employees across the country.
- Karnataka Bank's registered office is located at P.O. Box 599, Mahaveera Circle, Kankanady, Mangalore-575002 India.
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 1,169 crs. and Standalone net profit of Rs. 451 crs. Karnataka Bank reported total deposits of Rs. 46,009 crs and total advances of Rs. 31,680 crs.
- Karnataka Bank's management is led by its CEO Mr. P Jayarama Bhat.
- Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
