OBC MCLR Rates, OBC Base Rate – Dec 2018

OBC MCLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current MCLR rate of OBC ranges from 8.30% to 8.75% varying by reset frequency of the loan. OBC revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR OBC Rate Today
Overnight 8.30%
1 Month 8.45%
3 Month 8.50%
6 Month 8.70%
1 Year 8.75%
OBC Base Rate 9.50%

OBC Interest Rates

OBC Interest Rates
Home Loan Interest Rates 8.75% * Floating Detail
Loan Against Property Rates 10.90% * Floating Detail
Car Loan Interest Rates 9.05% to 9.15% Detail
Business Loan Interest Rates 11.40% to 12.40% Detail
Fixed Deposit Interest Rates 5.75% to 6.75% Detail

MCLR of OBC

OBC revises its MCLR rate on a monthly basis. Latest MCLR rates of OBC as announced on 12 Nov 2018 are:

  • Overnight MCLR Rate is 8.30%. The rate was last revised on 11 Oct 2018 to 8.30% from 8.20%
  • 1 Month MCLR Rate is 8.45%. The rate was last revised on 11 Oct 2018 to 8.45% from 8.35%
  • 3 Month MCLR Rate is 8.50%. The rate was last revised on 11 Oct 2018 to 8.50% from 8.40%
  • 6 Month MCLR Rate is 8.70%. The rate was last revised on 11 Oct 2018 to 8.70% from 8.60%
  • 1 Year MCLR Rate is 8.75%. The rate was last revised on 11 Oct 2018 to 8.75% from 8.65%

OBC MCLR Rate Trend

Date OBC MCLR
12th Nov 18
Overnight : 8.30%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.75%
11th Oct 18
Overnight : 8.30%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.70%
1 Year : 8.75%
11th Sep 18
Overnight : 8.20%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.65%
13th Aug 18
Overnight : 8.20%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.65%
11th Jul 18
Overnight : 8.20%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.65%
11th Jun 18
Overnight : 8.20%
1 Month : 8.35%
3 Month : 8.40%
6 Month : 8.60%
1 Year : 8.65%
11th May 18
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.45%
1 Year : 8.50%
11th Apr 18
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.45%
1 Year : 8.50%
12th Mar 18
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.45%
1 Year : 8.50%
12th Feb 18
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.35%
11th Dec 17
Overnight : 8.10%
1 Month : 8.15%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.35%
13th Nov 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.30%
1 Year : 8.40%
11th Oct 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.30%
1 Year : 8.40%
11th Sep 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.30%
1 Year : 8.40%
11th Aug 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.35%
1 Year : 8.45%
11th Jul 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.35%
1 Year : 8.45%
12th Jun 17
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.25%
6 Month : 8.35%
1 Year : 8.50%
01st May 17
Overnight : 8.25%
1 Month : 8.30%
3 Month : 8.45%
6 Month : 8.55%
1 Year : 8.60%
03rd Apr 17
Overnight : 8.40%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.55%
1 Year : 8.60%
03rd Jan 17
Overnight : 8.40%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.55%
1 Year : 8.60%
10th Oct 16
Overnight : 9.10%
1 Month : 9.20%
3 Month : 9.25%
6 Month : 9.30%
1 Year : 9.40%
01st Jul 16
Overnight : 9.20%
1 Month : 9.25%
3 Month : 9.30%
6 Month : 9.40%
1 Year : 9.55%
01st Apr 16
Overnight : 9.35%
1 Month : 9.40%
3 Month : 9.45%
6 Month : 9.50%
1 Year : 9.60%
30th Nov -1
Overnight : 8.40%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.55%
1 Year : 8.60%
  • Effective 1st April 2016, OBC has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. OBC MCLR rates for different tenors range from 8.30% to 8.75%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, OBC decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, OBC may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, OBC may decide to cut its 1 Year MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of OBC with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from OBC.
  • MCLR rate can be revised by OBC every month. However, it is not mandatory for OBC to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

OBC Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by OBC 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, personal loans are linked to short tenure 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 OBC will be repriced periodically depending upon the tenure of the MCLR to which it is linked. OBC home loan rate is benchmarked to 1 Year MCLR Base Rate which will be repriced after 1 Year. Say, you take a loan from OBC at current 1 Year MCLR rate of 8.75% plus spread of 20 bps. So, the loan will initially be priced at 8.95%. Its next re-pricing will be done after 1 Year from now. If the 3 Month MCLR rate after 1 Year increases by 10 bps, the loan will be priced at 9.05% for the next period.

Compare MCLR Rate Movement



    Compare OBC MLCR Rates with Other Banks

    About OBC

    • OBC's registered office is located at Harsha Bhawan, A, A?E-Block, Connaught Place, Delhi-110001 .
    • OBC's management is led by its CEO Mr. Animesh Chauhan.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    OBC News - Dec 2018
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