OBC Base Rate, OBC MCLR Base Rate Past Trend

Current OBC MCLR Base Rate

Last Updated 24th Nov 2016
Tenure MCLR, Base Rate
Overnight 9.10%
1 Month 9.20%
3 Month 9.25%
6 Month 9.30%
1 Year 9.40%
Current MCLR base rate of OBC ranges from 9.10% to 9.40% depending on the reset frequency of the loan. Rates are revised every month.
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OBC Interest Rates
Home Loan Interest Rates 9.40% * Floating Detail
Loan Against Property Rates 11.65% * Floating Detail

Past Trend Base Rate of OBC

OBC 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
10th Oct 16
9.10%
9.20%
9.25%
9.30%
9.40%
-
-
-
01st Jul 16
9.20%
9.25%
9.30%
9.40%
9.55%
-
-
-
01st Apr 16
9.35%
9.40%
9.45%
9.50%
9.60%
-
-
-

OBC base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, OBC 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. OBC has different MCLR base rates ranging from 9.10% to 9.40% for different tenures

Changes in MCLR Base rate of OBC

  • MCLR rate can be revised by OBC every month
  • Note that 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

OBC home loan interest rate and MCLR

  • Every floating rate loan sanctioned by OBC 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 OBC 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 OBC will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.60%. This loan will initially be priced at 10.1%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.35%, the loan will be priced at 9.85% for the next year

Past trend of OBC 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
30th Sep 15 9.70% decreased by 0.2%
29th Sep 15: 0.5% repo cut by RBI
17th Aug 15 9.90% decreased by 0.1%
02nd Jun 15: 0.25% repo cut by RBI
15th May 15 10.00% decreased by 0.25%
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
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
25th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
14th May 12 10.50% decreased by 0.15%
17th Apr 12: 0.5% repo cut by RBI
11th Apr 12 10.65% decreased by 0.1%
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
12th Jul 11 10.25% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
05th 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
02nd Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
15th Dec 10 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% increased by 0.5%
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 8.00%

OBC Base Rate Vs. RBI Repo Rate Trend

About OBC

  • OBC is a Public Sector Bank in India with 2,335 branches, 2,495 ATM's and 20,200 employees across the country.
  • OBC's registered office is located at Harsha Bhawan, E-Block, Connaught Place, Delhi-110001 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,084 crs. and Standalone net profit of Rs. 498 crs. OBC reported total deposits of Rs. 204,010 crs and total advances of Rs. 145,261 crs.
  • OBC's management is led by its CEO Mr. Animesh Chauhan.
  • Highest fixed deposit interest offered by OBC is 7.00% per annum on deposits.
  • Its current Base Rate is 9.70%, which was last revised on 30th Sep 15.
X
News - Dec 2016
03rd Nov 15 OBC profit up 3.4% on higher credit demand
OBC reported a 3.4 % growth in net profit on an annual basis as a result of a healthy pick-up in the credit demand.
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