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Kotak Bank MCLR Rates, Kotak Bank Base Rate – Nov 2019

Kotak Bank MCLR Rate

Current MCLR rate of Kotak Bank ranges from 8.10% to 8.55% varying by reset frequency of the loan. Kotak Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR Kotak Rate Today
Overnight 8.10%
1 Month 8.15%
3 Month 8.20%
6 Month 8.40%
1 Year 8.50%
2 Year 8.55%
3 Year 8.55%
Kotak Base Rate 9.20%

Kotak Bank Interest Rates

Kotak Bank Interest Rates
Home Loan Interest Rates 8.60% * Floating Detail
Loan Against Property Rates 9.60% * Floating Detail
Personal Loan Interest Rates 10.50% to 19.99% Detail
Car Loan Interest Rates 11.50% to 13.50% Detail
Business Loan Interest Rates 16.00% to 19.99% Detail
Fixed Deposit Interest Rates 3.50% to 6.50% Detail
Saving Account Interest Rates 4.50% to 6.00% Detail
RD Interest Rates 6.50% to 7.30% Detail

MCLR of Kotak Bank

Kotak Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Kotak Bank as announced on 16 Nov 2019 are:

  • Overnight MCLR Rate is 8.10%. The rate was last revised on 16 Nov 2019 to 8.10% from 8.15%
  • 1 Month MCLR Rate is 8.15%. The rate was last revised on 16 Nov 2019 to 8.15% from 8.20%
  • 3 Month MCLR Rate is 8.20%. The rate was last revised on 16 Nov 2019 to 8.20% from 8.30%
  • 6 Month MCLR Rate is 8.40%. The rate was last revised on 16 Nov 2019 to 8.40% from 8.50%
  • 1 Year MCLR Rate is 8.50%. The rate was last revised on 16 Nov 2019 to 8.50% from 8.60%
  • 2 Year MCLR Rate is 8.55%. The rate was last revised on 16 Nov 2019 to 8.55% from 8.65%
  • 3 Year MCLR Rate is 8.55%. The rate was last revised on 16 Nov 2019 to 8.55% from 8.65%

Kotak Bank MCLR Rate Trend

Date Kotak Bank MCLR
16th Nov 19
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.40%
1 Year : 8.50%
2 Year : 8.55%
3 Year : 8.55%
16th Oct 19
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.50%
1 Year : 8.60%
2 Year : 8.65%
3 Year : 8.65%
16th Sep 19
Overnight : 8.25%
1 Month : 8.25%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.75%
2 Year : 8.80%
3 Year : 8.80%
16th Aug 19
Overnight : 8.25%
1 Month : 8.25%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.75%
2 Year : 8.80%
3 Year : 8.80%
16th Jul 19
Overnight : 8.25%
1 Month : 8.25%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.85%
2 Year : 8.90%
3 Year : 8.90%
01st Jun 19
Overnight : 8.30%
1 Month : 8.30%
3 Month : 8.60%
6 Month : 8.80%
1 Year : 8.90%
2 Year : 8.90%
3 Year : 8.90%
01st May 19
Overnight : 8.30%
1 Month : 8.35%
3 Month : 8.60%
6 Month : 8.80%
1 Year : 8.90%
2 Year : 9.00%
3 Year : 9.00%
01st Apr 19
Overnight : 8.35%
1 Month : 8.35%
3 Month : 8.60%
6 Month : 8.80%
1 Year : 8.90%
2 Year : 9.00%
3 Year : 9.00%
01st Mar 19
Overnight : 8.30%
1 Month : 8.35%
3 Month : 8.60%
6 Month : 8.80%
1 Year : 9.00%
2 Year : 9.05%
3 Year : 9.05%
07th Feb 19
Overnight : 8.35%
1 Month : 8.35%
3 Month : 8.65%
6 Month : 8.85%
1 Year : 9.05%
2 Year : 9.05%
3 Year : 9.05%
01st Jan 19
Overnight : 8.15%
1 Month : 8.35%
3 Month : 8.65%
6 Month : 8.85%
1 Year : 9.00%
2 Year : 9.05%
3 Year : 9.05%
01st Dec 18
Overnight : 8.05%
1 Month : 8.35%
3 Month : 8.65%
6 Month : 8.85%
1 Year : 9.00%
2 Year : 9.05%
3 Year : 9.05%
01st Nov 18
Overnight : 8.05%
1 Month : 8.35%
3 Month : 8.70%
6 Month : 8.85%
1 Year : 9.00%
2 Year : 9.10%
3 Year : 9.15%
01st Oct 18
Overnight : 8.05%
1 Month : 8.35%
3 Month : 8.70%
6 Month : 8.85%
1 Year : 9.05%
2 Year : 9.10%
3 Year : 9.15%
01st Sep 18
Overnight : 8.05%
1 Month : 8.25%
3 Month : 8.55%
6 Month : 8.70%
1 Year : 8.95%
2 Year : 8.95%
3 Year : 9.00%
01st Aug 18
Overnight : 8.00%
1 Month : 8.20%
3 Month : 8.55%
6 Month : 8.65%
1 Year : 8.95%
2 Year : 8.95%
3 Year : 9.00%
01st Jul 18
Overnight : 8.00%
1 Month : 8.15%
3 Month : 8.50%
6 Month : 8.65%
1 Year : 8.95%
2 Year : 8.95%
3 Year : 9.00%
01st Jun 18
Overnight : 7.95%
1 Month : 8.15%
3 Month : 8.50%
6 Month : 8.60%
1 Year : 8.90%
2 Year : 8.90%
3 Year : 8.95%
01st May 18
Overnight : 7.95%
1 Month : 8.05%
3 Month : 8.40%
6 Month : 8.50%
1 Year : 8.70%
2 Year : 8.75%
3 Year : 8.80%
01st Apr 18
Overnight : 7.90%
1 Month : 8.00%
3 Month : 8.35%
6 Month : 8.45%
1 Year : 8.60%
2 Year : 8.70%
3 Year : 8.70%
01st Mar 18
Overnight : 7.90%
1 Month : 8.00%
3 Month : 8.35%
6 Month : 8.45%
1 Year : 8.65%
2 Year : 8.70%
3 Year : 8.70%
01st Feb 18
Overnight : 7.90%
1 Month : 8.00%
3 Month : 8.35%
6 Month : 8.45%
1 Year : 8.65%
2 Year : 8.70%
3 Year : 8.70%
01st Jan 18
Overnight : 7.80%
1 Month : 7.85%
3 Month : 8.15%
6 Month : 8.35%
1 Year : 8.65%
2 Year : 8.65%
3 Year : 8.70%
01st Dec 17
Overnight : 7.70%
1 Month : 7.70%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st Nov 17
Overnight : 7.70%
1 Month : 7.70%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st Oct 17
Overnight : 7.70%
1 Month : 7.70%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st Sep 17
Overnight : 7.70%
1 Month : 7.70%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.60%
2 Year : 8.60%
3 Year : 8.60%
01st Aug 17
Overnight : 7.75%
1 Month : 7.75%
3 Month : 8.15%
6 Month : 8.35%
1 Year : 8.65%
2 Year : 8.65%
3 Year : 8.65%
01st Jul 17
Overnight : 7.75%
1 Month : 7.80%
3 Month : 8.15%
6 Month : 8.40%
1 Year : 8.65%
2 Year : 8.65%
3 Year : 8.65%
01st Jun 17
Overnight : 7.90%
1 Month : 7.95%
3 Month : 8.25%
6 Month : 8.50%
1 Year : 8.90%
2 Year : 8.85%
3 Year : 8.85%
01st May 17
Overnight : 7.95%
1 Month : 7.95%
3 Month : 8.25%
6 Month : 8.50%
1 Year : 8.80%
2 Year : 8.85%
3 Year : 8.85%
01st Apr 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.25%
6 Month : 8.50%
1 Year : 8.80%
2 Year : 8.85%
3 Year : 8.85%
01st Mar 17
Overnight : 8.05%
1 Month : 8.10%
3 Month : 8.25%
6 Month : 8.50%
1 Year : 8.85%
2 Year : 8.85%
3 Year : 8.85%
01st Feb 17
Overnight : 8.05%
1 Month : 8.10%
3 Month : 8.25%
6 Month : 8.50%
1 Year : 8.85%
2 Year : 8.85%
3 Year : 8.85%
01st Jan 17
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%
01st Dec 16
Overnight : 8.60%
1 Month : 8.70%
3 Month : 8.85%
6 Month : 9.05%
1 Year : 9.20%
2 Year : 9.25%
3 Year : 9.25%
01st Nov 16
Overnight : 8.60%
1 Month : 8.80%
3 Month : 9.00%
6 Month : 9.20%
1 Year : 9.45%
2 Year : 9.55%
3 Year : 9.55%
01st Oct 16
Overnight : 8.70%
1 Month : 8.80%
3 Month : 9.00%
6 Month : 9.20%
1 Year : 9.50%
2 Year : 9.55%
3 Year : 9.55%
01st Sep 16
Overnight : 8.70%
1 Month : 8.80%
3 Month : 9.00%
6 Month : 9.25%
1 Year : 9.55%
2 Year : 9.60%
3 Year : 9.60%
01st Aug 16
Overnight : 8.75%
1 Month : 8.85%
3 Month : 9.05%
6 Month : 9.30%
1 Year : 9.60%
2 Year : 9.65%
3 Year : 9.65%
01st Jul 16
Overnight : 8.90%
1 Month : 8.95%
3 Month : 9.10%
6 Month : 9.35%
1 Year : 9.60%
2 Year : 9.65%
3 Year : 9.65%
01st Jun 16
Overnight : 8.90%
1 Month : 9.00%
3 Month : 9.25%
6 Month : 9.40%
1 Year : 9.60%
2 Year : 9.65%
3 Year : 9.65%
01st Apr 16
Overnight : 8.90%
1 Month : 9.00%
3 Month : 9.25%
6 Month : 9.40%
1 Year : 9.60%
2 Year : 9.65%
3 Year : 9.65%
  • Effective 1st April 2016, Kotak 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. Kotak Bank MCLR rates for different tenors range from 8.10% to 8.55%.
  • 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, Kotak 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, Kotak 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%, Kotak 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 Kotak Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Kotak Bank.
  • MCLR rate can be revised by Kotak Bank every month. However, 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 keeping them unchanged.

Kotak Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Kotak 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, personal loans are linked to short tenure 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. Kotak Bank home loan rate is benchmarked to MCLR Base Rate which will be repriced after . Say, you take a loan from Kotak at current MCLR rate of % plus spread of 20 bps. So, the loan will initially be priced at 0.2%. Its next re-pricing will be done after from now. If the 3 Month MCLR rate after increases by 10 bps, the loan will be priced at 0.3% for the next period.

Compare MCLR Rate Movement



    Compare Kotak Bank MLCR Rates with Other Banks

    About Kotak Bank

    • 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.
    • Kotak Bank's management is led by its CEO Mr. Uday Kotak.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    Kotak News - Nov 2019
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More