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Nainital Bank MCLR Rates, Nainital Bank Base Rate – Jul 2017

Last Updated 07th Jul 2017

Nainital Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Nainital Bank ranges from 8.20% to 9.15% depending on the reset frequency of the loan. Rates are revised every month.

Nainital Bank MCLR, Base Rate Tenure
8.20% Overnight
8.20% 1 Month
8.25% 3 Month
8.35% 6 Month
8.50% 1 Year
8.80% 2 Year
9.15% 3 Year
9.15% 5 Year
Base rate - 9.75% Past Trend
Nainital Bank Interest Rates
Loan Against Property Rates 14.75% * Floating Detail
Fixed Deposit Interest Rates 4.00% to 7.90% * Detail

Past Trend MCLR Rate of Nainital Bank

Nainital 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
07th Jul 17
8.20%
8.20%
8.25%
8.35%
8.50%
8.80%
9.15%
9.15%
07th Jun 17
8.20%
8.20%
8.25%
8.35%
8.50%
8.80%
9.15%
8.20%
07th May 17
8.20%
8.20%
8.25%
8.35%
8.00%
8.80%
9.15%
9.15%
07th Apr 17
8.30%
8.30%
8.35%
8.45%
8.60%
8.90%
9.25%
9.25%
07th Jan 17
8.30%
8.30%
8.35%
8.45%
8.60%
-
-
-
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 MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Nainital 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. Nainital Bank has different MCLR base rates ranging from 8.20% to 9.15% for different tenures

Changes in MCLR 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 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 RBI Rates Bank Rates
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
21st Oct 15 9.75% 0.25%
29th Sep 15 0.5%
01st Jul 15 10.00% 0.25%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
06th May 13 10.25% 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
24th Sep 12 10.50% 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 10.75% 0.5%
26th Jul 11 0.5%
20th Jul 11 10.25%
16th Jun 11 0.25%
03rd May 11 0.5%
17th Mar 11 0.25%
25th Jan 11 0.25%
02nd Nov 10 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%

Nainital Bank Base Rate Vs. RBI Repo Rate Trend

About Nainital Bank

  • Nainital Bank's registered office is located at Seven Oaks Building Mallital, Nainital Uttarakhand - 263001.
  • Nainital Bank's management is led by its CEO Mr. Mukesh Sharma.
  • Its current Base Rate is 9.75%, which was last revised on 21st Oct 15.
Nainital Bank Base Rate, PLR
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