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RBL Bank MCLR Rates, RBL Bank Base Rate – Jul 2021

RBL Bank MCLR Rate

Last Updated 19th Jul 2021

Current MCLR rate of RBL Bank ranges from 7.75% to 8.45% varying by reset frequency of the loan. RBL Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR RBL Bank Rate Today
Overnight 7.75%
1 Month 7.80%
3 Month 7.85%
6 Month 8.00%
1 Year 8.45%
RBL Bank Base Rate 10.05%
Apply for Home Loan @ 6.65% *

RBL Bank Interest Rates

RBL Bank offers the following loans to its customer on these rates currently:

Home Loan Interest Rates 9.50% * Floating Detail
Loan Against Property Rates % * Floating Detail
Personal Loan Interest Rates 14.00% to 23.00% Detail
Business Loan Interest Rates 18.50% to 21.00% Detail
Fixed Deposit Interest Rates 3.25% to 6.30% Detail
RD Interest Rates 5.25% to 6.75% Detail

MCLR of RBL Bank

RBL Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of RBL Bank as announced on 22 Jun 2021 are:

  • Overnight MCLR Rate is 7.75%.
  • 1 Month MCLR Rate is 7.80%.
  • 3 Month MCLR Rate is 7.85%.
  • 6 Month MCLR Rate is 8.00%.
  • 1 Year MCLR Rate is 8.45%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

RBL Bank MCLR Rate Trend

Date RBL Bank MCLR
22nd Jun 21 Overnight : 7.75%
1 Month : 7.80%
3 Month : 7.85%
6 Month : 8.00%
1 Year : 8.45%
22nd May 21 Overnight : 7.65%
1 Month : 7.75%
3 Month : 7.85%
6 Month : 7.95%
1 Year : 8.45%
22nd Apr 21 Overnight : 7.65%
1 Month : 7.75%
3 Month : 7.85%
6 Month : 8.05%
1 Year : 8.40%
22nd Feb 21 Overnight : 8.10%
1 Month : 8.10%
3 Month : 8.20%
6 Month : 8.50%
1 Year : 8.65%
22nd Jan 21 Overnight : 8.10%
1 Month : 8.10%
3 Month : 8.20%
6 Month : 8.50%
1 Year : 8.65%
22nd Dec 20 Overnight : 8.25%
1 Month : 8.25%
3 Month : 8.35%
6 Month : 8.55%
1 Year : 8.75%
22nd Nov 20 Overnight : 8.35%
1 Month : 8.40%
3 Month : 8.45%
6 Month : 8.65%
1 Year : 8.85%
22nd Sep 20 Overnight : 8.40%
1 Month : 8.45%
3 Month : 8.50%
6 Month : 8.75%
1 Year : 8.95%
  • Effective 1st April 2016, RBL Bank 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. RBL Bank MCLR rates for different tenors range from 7.75% to 8.45%.
  • 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, RBL Bank 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, RBL Bank 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%, RBL Bank 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 RBL Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from RBL Bank.
  • MCLR rate can be revised by RBL Bank every month. However, it is not mandatory for RBL Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

RBL Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by RBL 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, 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.

Compare RBL Bank MCLR Rates with Other Banks

About RBL Bank

  • RBL Bank's registered office is located at RBL Bank Ltd. 1st Lane, Shahupuri, Kolhapur-416001 Maharashtra State, India .
  • RBL Bank's management is led by its CEO Mr. Vishwavir Ahuja.
  • Its current Base Rate is 10.05%, which was last revised on 22nd Mar 20.

FAQs

What is the MCLR of RBL Bank?

RBL Bank MCLR ranges between 7.75% to 8.45% for a tenure ranging between 1 month to 5 years.

What is the current RBL Bank MCLR rate?

Current RBL Bank, overnight tenure is 7.75%, 1 month mclr is 7.80% , three month mclr is 7.85%, six month mclr is 8.00%, one year tenure is 8.45% and two year tenure is 0.00%.

What is RBL Bank base rate?

Currently, RBL Bank offers loans at a base rate of 10.05%.


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RBL Bank News - Jul 2021
  • 2021-04-26 : RBL Bank revised its Marginal cost of lending rates
    RBL Bank revised its MCLR. The overnight MCLR is 7.65%. The rate for one month and three months is 7.75% and 7.85%, respectively. Further, the MCLR for six months and one year is 8.05% and 8.40%, respectively. The revised rates are effective from 22 April 2021.
  • 2021-03-24 : RBL Bank revised its MCLR
    RBL Bank revised its MCLR. The overnight MCLR is 8.10%. The rate for one month and three months is 8% and 8.10%, respectively. Further, the MCLR for six months and one year is 8.35% and 8.65%, respectively. The revised rates are effective from 22 March 2021.
  • 2021-03-23 : Revised MCLR for RBL Bank
    RBL Bank revised its MCLR. The overnight MCLR is 8.10%. The rate for one month and three months is 8% and 8.10%, respectively. Further, the MCLR for six months and one year is 8.35% and 8.65%, respectively. The revised rates are effective from 22 March 2021.
  • 2021-01-22 : Revised MCLR for RBL Bank
    RBL Bank revised its MCLR with effect from 22 January 2021. The overnight MCLR is 8.10%. The rate for one month and three months is 8.10% and 8.20%, respectively. Further, the MCLR for six months and one year is 8.50% and 8.35%, respectively. The revised rates are effective from 22 January 2021.
  • 2020-07-27 : RBL Bank revised its MCLR
    RBL Bank revised its MCLR. Overnight MCLR is 8.55%. The rate for one month and three months is 8.65% and 8.80%, respectively. Further, the MCLR for six months and one year is 9.15% and 9.25%, respectively. The revised rates are effective from 22 July 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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