Lakshmi Vilas Bank Base Rate, Lakshmi Vilas Bank MCLR Base Rate Past Trend

Current Lakshmi Vilas Bank MCLR Base Rate

Last Updated 24th Nov 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 CRR at 4%. 100% CRR on fresh deposits withdrawn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 10.25%
1 Month 10.25%
3 Month 10.25%
6 Month 10.20%
1 Year 10.25%
Current MCLR base rate of Lakshmi Vilas Bank ranges from 10.20% to 10.25% depending on the reset frequency of the loan. Rates are revised every month.
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Lakshmi Vilas Bank Interest Rates
Home Loan Interest Rates 10.35% * Floating Detail
Loan Against Property Rates 12.50% * Floating Detail
Fixed Deposit Interest Rates 4.50% to 7.00% * Detail

Past Trend Base Rate of Lakshmi Vilas Bank

Lakshmi Vilas 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 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 base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Lakshmi Vilas 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. Lakshmi Vilas Bank has different MCLR base rates ranging from 10.20% to 10.25% for different tenures

Changes in MCLR Base rate 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 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 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 Base Rate
19th Oct 16 10.50%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
08th Feb 16 10.55% decreased by 0.15%
03rd Nov 15 10.70% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
01st Jul 15 10.95% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
16th Apr 15 11.10% decreased by 0.15%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
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
23rd Aug 13 11.25% increased by 0.25%
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
17th Apr 12: 0.5% repo cut by RBI
29th Nov 11 11.00% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
08th Aug 11 10.75% decreased by 0.15%
01st Aug 11 10.90% increased by 0.4%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd Jun 11 10.50% increased by 0.5%
09th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
05th Feb 11 9.50% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 9.25% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
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 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.
  • Highest fixed deposit interest offered by Lakshmi Vilas Bank is 7.40% per annum on deposits.
  • Its current Base Rate is 10.50%, which was last revised on 19th Oct 16.
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News - Dec 2016
20th Jul 16 Lakshmi Vilas Bank Q1 net jumps 50 per cent to Rs 61 crore
Lakshmi Vilas Bank has reported a net profit of over 50 per cent at Rs 60.68 crore in the June quarter of FY17. Total income of the bank in the June Quarter increased to Rs 774.87 crore from Rs 693.05 crore in the same period of previous year. Gross NPAs as a percentage to Total Advances decreased to 2.14 per cent. Net NPAs decreased to 1.3 per cent of the Net Advances as against 1.72 per cent in the same period of previous fiscal. Thus, the provision towards bad loans was also reduced to Rs 35.15 crore June quarter of FY17 as against Rs 50.31 crore in the same period of previous year.
28th Apr 16 Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Lakshmi Vilas Bank saw its Q4 profit grow 22.5% to Rs 49.07 crore from strength in its retail and SME lending. The commercial lender Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. The bank is seeing lending opportunities in the pharma and real estate sector. And they are looking at broadening the scope of their agricultural loans. The only possible areas of improvement bank can see are with regard to their CASA deposits and their net interest income.
29th Jan 16 Lakshmi Vilas Bank launches LVB Mobile app
LVB launched its mobile app to tap the digital banking space and diversify its offerings. The bank also inaugurated its first cash deposit machine at Global Village campus in Bengaluru
28th Jan 16 Lakshmi Vilas Bank Q3FY16 standalone net profit rises 42 per cent
LVB reported net profit of Rs. 46.07 Cr for the quarter ended December 2015 on fall in bad loans and healthy revenue from retail and corporate banking segments.
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