Kotak Bank Base Rate, Kotak Bank MCLR Base Rate Past Trend

Current Kotak Bank MCLR Base Rate

Last Updated 02nd Jan 2017
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Tenure MCLR, Base Rate
Overnight 8.20%
1 Month 8.25%
3 Month 8.40%
6 Month 8.65%
1 Year 9.00%
2 Year 9.00%
3 Year 9.00%
Current MCLR base rate of Kotak Bank ranges from 8.20% to 9.00% depending on the reset frequency of the loan. Rates are revised every month.
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Kotak Bank Interest Rates
Home Loan Interest Rates 9.10% * Floating Detail
Loan Against Property Rates 10.50% * Floating Detail
Personal Loan Interest Rates 11.50% * Detail
Fixed Deposit Interest Rates 4.00% to 6.75% * Detail

Past Trend Base Rate of Kotak Bank

Kotak Bank 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
01st Jan 17
8.20%
8.25%
8.40%
8.65%
9.00%
9.00%
9.00%
-
01st Dec 16
8.60%
8.70%
8.85%
9.05%
9.20%
9.25%
9.25%
-
01st Nov 16
8.60%
8.80%
9.00%
9.20%
9.45%
9.55%
9.55%
-
01st Oct 16
8.70%
8.80%
9.00%
9.20%
9.50%
9.55%
9.55%
-
01st Sep 16
8.70%
8.80%
9.00%
9.25%
9.55%
9.60%
9.60%
-
01st Aug 16
8.75%
8.85%
9.05%
9.30%
9.60%
9.65%
9.65%
-
01st Jul 16
8.90%
8.95%
9.10%
9.35%
9.60%
9.65%
9.65%
-
01st Jun 16
8.90%
9.00%
9.25%
9.40%
9.60%
9.65%
9.65%
-
01st Apr 16
8.90%
9.00%
9.25%
9.40%
9.65%
-
-
-

Kotak Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Kotak 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. Kotak Bank has different MCLR base rates ranging from 8.20% to 9.00% for different tenures

Changes in MCLR Base rate of Kotak Bank

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

Kotak Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Kotak 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 Kotak 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 Kotak 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 9.65%. This loan will initially be priced at 10.15%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.4%, the loan will be priced at 9.9% for the next year

Past trend of Kotak Bank Base Rate vs RBI Repo Rate

Date Base Rate
06th Jan 17 9.30%
07th Oct 16 9.40%
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 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jul 15 9.75% decreased by 0.1%
02nd Jun 15: 0.25% repo cut by RBI
14th Apr 15 9.85% decreased by 0.15%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
03rd Feb 14 10.00% increased by 0.25%
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
29th Jan 13: 0.25% repo cut by RBI
26th Apr 12 9.75% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
01st Nov 11 10.00% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
26th Jul 11: 0.5% repo hike by RBI
13th Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
10th May 11 9.25% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Mar 11 8.75% increased by 0.5%
02nd Feb 11 9.75% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 8.25% increased by 0.25%
06th Dec 10 8.00% increased by 0.25%
08th Nov 10 7.75% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50% 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 7.25%

Kotak Bank Base Rate Vs. RBI Repo Rate Trend

About Kotak Bank

  • Kotak Bank is a Private Bank in India with 684 branches, 1,273 ATM's and 29,000 employees across the country.
  • Kotak Bank's registered office is located at Kotak Mahindra Bank Ltd, 27 BKC, C-27 G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400051.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 4,224 crs. and Standalone net profit of Rs. 1,866 crs. Kotak Bank reported total deposits of Rs. 74,860 crs and total advances of Rs. 66,160 crs.
  • Kotak Bank's management is led by its CEO Mr. Uday Kotak.
  • Its current Base Rate is 9.30%, which was last revised on 06th Jan 17.
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News - Jan 2017
17th Jan 17 Kotak Mahindra Bank acquires 19.9 percent stake in Airtel M Commerce Services
Kotak Mahindra Bank Limited has bought a 19.9 percent stake in Airtel M Commerce Services Limited for Rs. 98.38 crore to set up payments bank. AMSL provides electronic payment services to the customers under the Airtel Money brand name.
17th Jan 17 Gold demand in India tumbled by 24 percent 2016, lowest in seven year
Kotak Mahindra Bank in its report has highlighted a decline of 24 percent in gold demand during 2016. Gold demand in India in 2016 was approx 750 metric tons as compared to 858 tons in 2015. The report presents a cautious outlook on the future demand of gold on global bullion and expects a further decline in gold demand to 400 metric tons in 2017 as compared to 575 tons in 2016.
13th Jan 17 Kotak Mahindra Bank reduces savings account deposit rates
Kotak Mahindra Bank has reduced its saving account deposit rates for deposits above Rs. 5 crores to 5.5 percent as compared to 6 percent earlier. The revised saving account deposit rate for deposits up to Rs. 1 lakh now stands at 5 percent. The rates are effective from 6th January, 2017.
07th Jan 17 Kotak Mahindra Bank cuts base rate to 9.30 percent
Kotak Mahindra Bank has reduced its base rate by 10 basis points to 9.30 percent as compared to 9.40 percent earlier. The rate is effective from 6th January, 2017.
02nd Jan 17 Kotak Mahindra Bank reduces MCLR rate by up to 45 basis points
Kotak Mahindra Bank has reduced its overnight and six months marginal cost of lending rates to 8.20 and 8.65 percent respectively. The revised MCLR for one year now stands at 9.20 percent. The bank has reduced its two and three year MCLR by 25 basis points to 9 percent as compared to 9.25 percent earlier. The new rates are effective from 1st January, 2017.
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