SBBJ Base Rate, SBBJ MCLR Base Rate Past Trend

Current SBBJ MCLR Base Rate

Last Updated 25th Nov 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 8.75%
1 Month 8.85%
3 Month 8.95%
6 Month 9.05%
1 Year 9.15%
2 Year 9.20%
3 Year 9.30%
Current MCLR base rate of SBBJ ranges from 8.75% to 9.30% depending on the reset frequency of the loan. Rates are revised every month.
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SBBJ Interest Rates
Loan Against Property Rates 11.65% * Floating Detail
Fixed Deposit Interest Rates 5.50% to 7.00% * Detail

Past Trend Base Rate of SBBJ

SBBJ 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
01st Dec 16
8.75%
8.85%
8.95%
9.05%
9.15%
9.20%
9.30%
-
01st Nov 16
9.05%
9.15%
9.25%
9.35%
9.45%
9.50%
9.60%
-
01st Oct 16
9.15%
9.25%
9.35%
9.45%
9.55%
9.60%
9.70%
-
01st Sep 16
9.15%
9.25%
9.35%
9.45%
9.55%
9.65%
9.75%
-
01st Aug 16
9.15%
9.25%
9.35%
9.45%
9.55%
9.65%
9.75%
-
01st May 16
9.15%
9.25%
9.35%
9.45%
9.55%
9.65%
9.75%
-

SBBJ base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, SBBJ 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. SBBJ has different MCLR base rates ranging from 8.75% to 9.30% for different tenures

Changes in MCLR Base rate of SBBJ

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

SBBJ home loan interest rate and MCLR

  • Every floating rate loan sanctioned by SBBJ 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 SBBJ 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 SBBJ will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.55%. This loan will initially be priced at 10.05%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.3%, the loan will be priced at 9.8% for the next year

Past trend of SBBJ 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
05th Oct 15 9.70% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
18th Jun 15 9.95% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
06th May 15 10.10% 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
03rd Oct 13 10.25% increased by 0.1%
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
04th Mar 13 10.15% decreased by 0.1%
29th Jan 13: 0.25% repo cut by RBI
01st Oct 12 10.25% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
14th Nov 11 10.50% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
10th Aug 11 10.25% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
11th Jul 11 9.75% increased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
07th May 11 9.25% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
21st Feb 11 8.75% increased by 0.25%
25th Jan 11: 0.25% repo hike by RBI
16th Jan 11 8.50% increased by 0.25%
24th Dec 10 8.25% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
29th Oct 10 8.00% increased by 0.25%
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 7.75%

SBBJ Base Rate Vs. RBI Repo Rate Trend

About SBBJ

  • SBBJ's registered office is located at .
  • SBBJ's management is led by its CEO .
  • Highest fixed deposit interest offered by SBBJ is 7.00% per annum on deposits.
  • Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.
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News - Dec 2016
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