Nainital Bank Base Rate, Nainital Bank MCLR Base Rate Past Trend

Current Nainital Bank MCLR Base Rate

Last Updated 24th Nov 2016
Tenure MCLR, Base Rate
Overnight 8.70%
1 Month 8.70%
3 Month 8.75%
6 Month 8.85%
1 Year 9.00%
Current MCLR base rate of Nainital Bank ranges from 8.70% to 9.00% depending on the reset frequency of the loan. Rates are revised every month.
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Nainital Bank Interest Rates
Loan Against Property Rates 14.75% * Floating Detail

Past Trend Base Rate of Nainital Bank

Nainital 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
07th Oct 16
8.70%
8.70%
8.75%
8.85%
9.00%
-
-
-
07th Jul 16
8.80%
8.80%
8.85%
8.95%
9.10%
-
-
-
01st Apr 16
9.00%
9.00%
9.05%
9.15%
9.30%
-
-
-

Nainital Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Nainital 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. Nainital Bank has different MCLR base rates ranging from 8.70% to 9.00% for different tenures

Changes in MCLR Base rate of Nainital Bank

  • MCLR rate can be revised by Nainital Bank every month
  • Note that it is not mandatory for Nainital Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Nainital Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Nainital 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 Nainital 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 Nainital 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 9.30%. This loan will initially be priced at 9.8%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.05%, the loan will be priced at 9.55% for the next year

Past trend of Nainital Bank Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
21st Oct 15 9.75% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
01st Jul 15 10.00% decreased by 0.25%
02nd Jun 15: 0.25% repo cut by RBI
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
06th May 13 10.25% decreased 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
24th Sep 12 10.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
20th Jul 11 10.25%
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
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

Nainital Bank Base Rate Vs. RBI Repo Rate Trend

About Nainital Bank

  • Nainital Bank's registered office is located at .
  • Nainital Bank's management is led by its CEO .
  • Highest fixed deposit interest offered by Nainital Bank is 7.90% per annum on deposits.
  • Its current Base Rate is 9.75%, which was last revised on 21st Oct 15.
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News - Dec 2016
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