Lakshmi Vilas Bank MCLR Rates, Lakshmi Vilas Bank Base Rate – Aug 2017
Last Updated 17th Aug 2017
Lakshmi Vilas Bank MCLR Rate – Current Rate, Past Trend
Current MCLR of Lakshmi Vilas Bank ranges from 9.45% to 9.50% depending on the reset frequency of the loan. Rates are revised every month.
| Lakshmi Vilas Bank MCLR, Base Rate | Tenure |
|---|---|
| 9.50% | Overnight |
| 9.50% | 1 Month |
| 9.50% | 3 Month |
| 9.45% | 6 Month |
| 9.45% | 1 Year |
| Base rate - 10.50% | Past Trend |
Lakshmi Vilas Bank Interest Rates
| Home Loan Interest Rates | 9.55% * Floating | Detail |
| Loan Against Property Rates | 11.70% * Floating | Detail |
| Fixed Deposit Interest Rates | 4.50% to 7.00% * | Detail |
Past Trend MCLR Rate of Lakshmi Vilas Bank
Lakshmi Vilas Bank MCLR Rate History
Revised
Date
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
MCLR
2 Year
MCLR
MCLR
3 Year
MCLR
MCLR
5 Year
MCLR
MCLR
01st Aug 17
9.50%
9.50%
9.50%
9.45%
9.45%
-
-
-
01st Jul 17
9.50%
9.50%
9.50%
9.50%
9.50%
-
-
-
01st Jun 17
9.35%
9.35%
9.40%
9.45%
9.50%
-
-
-
01st May 17
9.40%
9.45%
9.50%
9.60%
9.70%
-
-
-
01st Apr 17
9.40%
9.45%
9.50%
9.60%
9.75%
-
-
-
09th Feb 17
9.80%
9.80%
9.80%
9.75%
9.75%
-
-
-
01st Jan 17
10.20%
10.20%
10.15%
10.15%
10.15%
-
-
-
01st Oct 16
10.25%
10.25%
10.25%
10.20%
10.25%
-
-
-
01st Apr 16
10.15%
10.20%
10.20%
10.20%
10.30%
-
-
-
Lakshmi Vilas Bank MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Lakshmi Vilas 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. Lakshmi Vilas Bank has different MCLR base rates ranging from 9.45% to 9.50% for different tenures
Changes in MCLR of Lakshmi Vilas Bank
- MCLR rate can be revised by Lakshmi Vilas Bank every month
- Note that it is not mandatory for Lakshmi Vilas Bank to revise its rate every month and it may choose to retain the same rate for a longer period
Lakshmi Vilas Bank home loan interest rate and MCLR
- Every floating rate loan sanctioned by Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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 10.30%. This loan will initially be priced at 10.8%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 10.05%, the loan will be priced at 10.55% for the next year
Past trend of Lakshmi Vilas Bank Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 02nd Aug 17 | 0.25% | |
| 19th Oct 16 | 10.50% 0.05% | |
| 04th Oct 16 | 0.25% | |
| 05th Apr 16 | 0.25% | |
| 08th Feb 16 | 10.55% 0.15% | |
| 03rd Nov 15 | 10.70% 0.25% | |
| 29th Sep 15 | 0.5% | |
| 01st Jul 15 | 10.95% 0.15% | |
| 02nd Jun 15 | 0.25% | |
| 16th Apr 15 | 11.10% 0.15% | |
| 04th Mar 15 | 0.25% | |
| 15th Jan 15 | 0.25% | |
| 28th Jan 14 | 0.25% | |
| 29th Oct 13 | 0.25% | |
| 20th Sep 13 | 0.25% | |
| 23rd Aug 13 | 11.25% 0.25% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 29th Jan 13 | 0.25% | |
| 17th Apr 12 | 0.5% | |
| 29th Nov 11 | 11.00% 0.25% | |
| 25th Oct 11 | 0.25% | |
| 16th Sep 11 | 0.25% | |
| 08th Aug 11 | 10.75% 0.15% | |
| 01st Aug 11 | 10.90% 0.4% | |
| 26th Jul 11 | 0.5% | |
| 16th Jun 11 | 0.25% | |
| 03rd Jun 11 | 10.50% 0.5% | |
| 09th May 11 | 10.00% 0.5% | |
| 03rd May 11 | 0.5% | |
| 17th Mar 11 | 0.25% | |
| 05th Feb 11 | 9.50% 0.25% | |
| 25th Jan 11 | 0.25% | |
| 01st Jan 11 | 9.25% 0.5% | |
| 02nd Nov 10 | 0.25% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 8.75% |
Lakshmi Vilas Bank Base Rate Vs. RBI Repo Rate Trend
About Lakshmi Vilas Bank
- Lakshmi Vilas Bank is a Private Bank in India with 422 branches, 820 ATM's and 3,256 employees across the country.
- Lakshmi Vilas Bank's registered office is located at Salem Road, Kathaparai, Karur TamilNadu-639006 .
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 527 crs. and Standalone net profit of Rs. 132 crs. Lakshmi Vilas Bank reported total deposits of Rs. 21,964 crs and total advances of Rs. 16,352 crs.
- Lakshmi Vilas Bank's management is led by its CEO Mr. Parthasarathi Mukherjee.
- Its current Base Rate is 10.50%, which was last revised on 19th Oct 16.
