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Karur Vysya Bank MCLR Rates, Karur Vysya Bank Base Rate – Apr 2017

Last Updated 28th Apr 2017

Karur Vysya Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Karur Vysya Bank ranges from 9.10% to 9.50% depending on the reset frequency of the loan. Rates are revised every month.

Karur Vysya Bank MCLR, Base Rate Tenure
9.10% Overnight
9.10% 1 Month
9.10% 3 Month
9.30% 6 Month
9.50% 1 Year
Base rate - 10.30% Past Trend
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Karur Vysya Bank Interest Rates
Home Loan Interest Rates 9.90% * Floating Detail
Loan Against Property Rates 12.75% * Floating Detail
Personal Loan Interest Rates 13.90% * Detail
Fixed Deposit Interest Rates 5.00% to 7.00% * Detail

Past Trend MCLR Rate of Karur Vysya Bank

Karur Vysya 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
07th Apr 17
9.10%
9.10%
9.10%
9.30%
9.50%
-
-
-
07th Jan 17
9.20%
9.20%
9.20%
9.40%
9.60%
-
-
-
07th Oct 16
9.50%
9.50%
9.50%
9.70%
9.90%
-
-
-
01st Apr 16
9.85%
9.85%
9.85%
9.95%
10.05%
-
-
-
01st Apr 16
9.85%
9.85%
9.85%
9.95%
10.05%
-
-
-

Karur Vysya Bank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Karur Vysya 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. Karur Vysya Bank has different MCLR base rates ranging from 9.10% to 9.50% for different tenures

Changes in MCLR of Karur Vysya Bank

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

Karur Vysya Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Karur Vysya 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 Karur Vysya 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 Karur Vysya 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 10.05%. This loan will initially be priced at 10.55%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.8%, the loan will be priced at 10.3% for the next year

Past trend of Karur Vysya Bank Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
07th Oct 16 10.30% 0.1%
04th Oct 16 0.25%
05th Apr 16 0.25%
05th Oct 15 10.40% 0.35%
29th Sep 15 0.5%
02nd Jun 15 0.25%
04th Mar 15 0.25%
23rd Jan 15 10.75% 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%
20th Aug 13 11.00% 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
03rd Feb 13 10.75% 0.25%
29th Jan 13 0.25%
02nd Sep 12 11.00% 0.25%
17th Apr 12 0.5%
24th Nov 11 11.25% 0.25%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 11.00% 0.5%
26th Jul 11 0.5%
16th Jun 11 0.25%
16th May 11 10.50% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
07th Feb 11 10.00% 0.5%
25th Jan 11 0.25%
24th Dec 10 9.50% 0.5%
02nd Nov 10 0.25%
04th Oct 10 9.00% 0.5%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 8.50%

Karur Vysya Bank Base Rate Vs. RBI Repo Rate Trend

About Karur Vysya Bank

  • Karur Vysya Bank is a Private Bank in India with 629 branches, 1,645 ATM's and 7,197 employees across the country.
  • Karur Vysya Bank's registered office is located at Post Box No. 21, Erode Road, Karur Tamil Nadu-639002 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 1,466 crs. and Standalone net profit of Rs. 464 crs. Karur Vysya Bank reported total deposits of Rs. 44,690 crs and total advances of Rs. 36,691 crs.
  • Karur Vysya Bank's management is led by its CEO Mr. K.Venkataraman.
  • Its current Base Rate is 10.30%, which was last revised on 07th Oct 16.

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