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

Current Kotak Bank MCLR Base Rate

Last Updated 08th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
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%
Current MCLR base rate of Kotak Bank ranges from 8.60% to 9.25% 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 9.30% * 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 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 8.60% to 9.25% 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
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.
  • Highest fixed deposit interest offered by Kotak Bank is 6.75% per annum on deposits.
  • Its current Base Rate is 9.40%, which was last revised on 07th Oct 16.
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News - Dec 2016
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
18th Nov 16 Kotak Mahindra Bank fixed deposit rate cut to 7 percent
Kotak Mahindra Bank has reduced its one year fixed deposits rate by 25 basis points to 7 percent. Fixed deposit rates for two to three years are also reduced by 50 basis points to 6.75 percent from 7.25 percent. The revised rates will be applicable to new deposits and renewal of maturing deposits.
12th Nov 16 Kotak Mahindra Bank gets RBI approval to open branch in Dubai International Finance Centre
Kotak Mahindra Bank received approval from Reserve Bank of India to start its maiden international branch in DIFC (Dubai International Finance Centre). This will be the first international branch of Kotak in DIFC. Kotak already has international offices in London, New York, Texas, California, Dubai, Abu Dhabi, Mauritius and Singapore.
27th Oct 16 Kotak Mahindra Bank net profit in second quarter rises by 43 percent, NPA reduces marginally
Kotak Mahindra Bank reported an increase in its net profit by 43 percent to Rs. 813 crore in the June to September quarter as compared to the net profit of Rs. 570 crore during the same corresponding period a year ago. The gross non performing assets are reduced to 2.49 percent in September as compared to 2.50 percent in June.
04th Oct 16 Kotak Mahindra Bank wins company of the year award in ET Awards for Corporate Excellence Awards
Kotak Mahindra Bank wins the Best Company of the year in ET Awards for Corporate Excellence Awards. The bank won three votes against two. The evolution of the bank remains interesting with services such as stock broking, insurance, currency trading and structured financial products. The latest resilient feather in its cap is the acquisition of ING Vysya, the Dutch Lender Indian Unit, in 2014.
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