Ratnakar Bank MCLR Rate, Ratnakar Bank Base Rate – Jan 2017

Ratnakar Bank MCLR Rate – Current Rate, Past Trend

Last Updated 20th Jan 2017
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Ratnakar Bank MCLR, Base Rate Tenure
9.70% Overnight
9.70% 1 Month
9.75% 3 Month
9.80% 6 Month
9.85% 1 Year
9.95% 2 Year
10.05% 3 Year
Base rate - 10.60%
Current MCLR base rate of Ratnakar Bank ranges from 9.70% to 10.05% depending on the reset frequency of the loan. Rates are revised every month.
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Ratnakar Bank Interest Rates
Home Loan Interest Rates 10.25% * Floating Detail
Loan Against Property Rates 12.75% * Floating Detail
Fixed Deposit Interest Rates 5.00% to 7.85% * Detail

Past Trend Base Rate of Ratnakar Bank

Ratnakar 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
22nd Dec 16
9.70%
9.70%
9.75%
9.80%
9.85%
9.95%
10.05%
-
22nd Sep 16
10.00%
10.00%
10.15%
10.20%
10.25%
10.40%
10.50%
-
22nd Jun 16
10.15%
10.20%
10.35%
10.35%
10.40%
10.50%
10.55%
-
01st Apr 16
10.35%
10.40%
10.55%
10.60%
10.60%
10.75%
10.85%
-

Ratnakar Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Ratnakar 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. Ratnakar Bank has different MCLR base rates ranging from 9.70% to 10.05% for different tenures

Changes in MCLR Base rate of Ratnakar Bank

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

Ratnakar Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Ratnakar 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 Ratnakar 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 Ratnakar 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 10.60%. This loan will initially be priced at 11.1%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 10.35%, the loan will be priced at 10.85% for the next year

Past trend of Ratnakar Bank Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
25th Jun 16 10.60% decreased by 0.05%
05th Apr 16: 0.25% repo cut by RBI
16th Oct 15 10.65% decreased by 0.2%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
15th May 15 10.85% 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
01st Oct 13 11.00% increased by 0.1%
20th Sep 13: 0.25% repo hike by RBI
15th Jul 13 10.90% decreased by 0.1%
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
01st Dec 11 11.00% increased by 0.25%
31st Oct 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
01st Oct 11 10.50% increased by 0.25%
16th Sep 11: 0.25% repo hike by RBI
16th Aug 11 10.25% increased by 0.5%
30th Jul 11 9.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
01st Jul 11 9.50% increased by 1%
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
17th Feb 11 8.50%
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

Ratnakar Bank Base Rate Vs. RBI Repo Rate Trend

About Ratnakar Bank

  • Ratnakar Bank is a Private Bank in India with 191 branches, 348 ATM's and 3,465 employees across the country.
  • Ratnakar Bank's registered office is located at RBL Bank Ltd. 1st Lane, Shahupuri, Kolhapur-416001 Maharashtra State, India .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 556 crs. and Standalone net profit of Rs. 207 crs. Ratnakar Bank reported total deposits of Rs. 17,099 crs and total advances of Rs. 14,450 crs.
  • Ratnakar Bank's management is led by its CEO Mr. Vishwavir Ahuja.
  • Its current Base Rate is 10.60%, which was last revised on 25th Jun 16.
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News - Jan 2017
23rd Jan 17 RBL registers growth of 59 percent in its net profit in third quarter of FY 17
Ratnakar Bank has reported a growth of 59 percent in its net profit at Rs 129 crore for the third quarter of FY17 as compared to Rs. 81 crore for the corresponding quarter of FY16. Gross non performing assets of the bank have reduced to 0.52 percent during the quarter as compared to 0.69 a year ago. As per a leading official of the bank, its retail loan book comprising of loan against property and business loan has fallen steeply to 40 percent during the current quarter as a fallout of demonetisation.
13th Jan 17 RBL cuts saving account deposit rates to 6 percent
Ratnakar Bank has reduced its saving account deposit rate for deposits up to Rs. 10 lakhs to 6 percent as compared to 6.1 percent earlier. The revised deposit rate for bulk deposits up to Rs. 50 lakhs now stands at 6.5 percent as compared to 7 percent earlier. The rates are effective from 6th January, 2017.
22nd Dec 16 RBL Bank reduces its MCLR up to 45 bps
Ratnakar Bank Limited has reduced its overnight and one month marginal cost of lending rates by 30 bps to 9.70 percent as compared to 10 percent earlier. The revised MCLR rates for six month and one year lending now stands reduced at 9.80 and 9.85 percent respectively. The bank has also reduced its three year lending rate by 45 bps to 10.05 percent. New rates are effective from 22nd December, 2016.
14th Dec 16 RBL Bank organizes an initiative for girl child education
RBL Bank organised a cyclothon named Umeed 1,000 to raise funds and spread awareness for the education of underprivileged girl child. The theme of the initiative matches the core philosophy of the bank that is Apno Ka Bank.
01st Dec 16 RBL Bank launches Aadhaar based disbursement of micro loans
Ratnakar Bank has launched Aadhaar Payment Based System (APBS) scheme for micro loan disbursements. With this, RBL becomes the first bank to provide cashless disbursement of micro loans. Under the new system, the bank will transfer the loan amount directly to the Aadhaar enabled bank accounts of micro loan borrowers.
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