Kotak Bank MCLR Rates, Kotak Bank Base Rate – Mar 2017

Kotak Bank MCLR Rate – Current Rate, Past Trend

Last Updated 16th Mar 2017
Kotak Bank MCLR, Base Rate Tenure
8.05% Overnight
8.10% 1 Month
8.25% 3 Month
8.50% 6 Month
8.85% 1 Year
8.85% 2 Year
8.85% 3 Year
Base rate - 9.30% Past Trend
Current MCLR of Kotak Bank ranges from 8.05% to 8.85% 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 8.75% * Floating Detail
Loan Against Property Rates 10.50% * Floating Detail
Personal Loan Interest Rates 11.50% * Detail
Fixed Deposit Interest Rates 3.50% to 6.75% * Detail

Past Trend MCLR Rate of Kotak Bank

Kotak 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
01st Mar 17
8.05%
8.10%
8.25%
8.50%
8.85%
8.85%
8.85%
-
01st Feb 17
8.05%
8.10%
8.25%
8.50%
8.85%
8.85%
8.85%
-
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 MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Kotak 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. Kotak Bank has different MCLR base rates ranging from 8.05% to 8.85% for different tenures

Changes in MCLR 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 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
08th Feb 17: 0% repo none by RBI
06th Jan 17 9.30% decreased by 0.1%
07th Dec 16: 0% repo none by RBI
07th Oct 16 9.40% decreased by 0.1%
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 - Mar 2017
17th Mar 17 Banks Board Bureau reaches Prime Minister of India seeking action plan for increasing bad loans
Chairman of Banks Board Bureau wrote a letter to Finance Minister and Prime Minister of India seeking an action plan to control the increasing quantum of bad loans of the banks. Many state run and private banks including Kotak Mahindra Bank have reported an increase in the quantum of bad loans. As per the report, bad loans of state run banks rose by over Rs. 1 lakh crore at Rs. 6 lakh in December, 2016 on year on year basis.BBB in its letter has asked the ministry to penalise the banks who are held accountable for delaying the process of resolving or managing bad loans.
16th Mar 17 Micro loans are new big business house for banks
As per banking experts, banks have turned out to be active players in micro loan business during last five years. As per the data, out of total loan portfolio of the major banks of Rs. 98,625 crore, 37 percent (Rs. 36,683 crore) is accounted for micro loans. Eleven banks account for majority of micro loans portfolio. Some of the prominent banks in microfinance are HDFC, ICICI, Yes Bank, RBL, Equitas, Kotak Mahindra Bank, IDFC, Axis, Bandhan and DCB Bank.
11th Mar 17 Kotak MF launches Go Digital
Kotak Mahindra Asset Management Company has launched a digital platform named Go Digital. The digital platform will enable the distributors to build their own website or mobile application. With the help of digital platform, Kotak Mutual fund investors can access their portfolios, view scheme details and check for documents required for investment.
09th Mar 17 Kotak Mahindra Bank sold 1.5 percent stake to Canadian Funds
Chief of Kotak Mahindra Bank has sold 1.5 percent of his personal stake in Kotak Bank to two Canadian Pension Fund managers for Rs. 2,255 crore via open market transaction. The 2.76 crore shares were sold at Rs. 817 per share. Under the sale, 1.84 crore share of the bank were purchased by CPDQ fund and the remaining shares were taken by Canada Pension Plan Investment Board. As per sources, the move will help the bank to comply with RBI directive on promoter shareholding that should stand at 30 percent.
08th Mar 17 Canadian pension fund CPDQ plans to buy stake in Kotak Mahindra Bank
Kotak Mahindra Bank is in talks with Canadian Pension Fund manager, Caisse de Depot et Placement du Quebec (CPDQ) to sell its 3 percent stake. As per Bloomberg data, market value of the 3 percent stake of the bank based on its current stock price that stands at Rs. 5,400 crore (810 million dollars).
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