SBI MCLR Rates, SBI Base Rate – Jul 2017
Last Updated 24th Jul 2017
SBI MCLR Rate – Current Rate, Past Trend
Current MCLR of SBI ranges from 7.75% to 8.15% depending on the reset frequency of the loan. Rates are revised every month.
| SBI MCLR, Base Rate | Tenure |
|---|---|
| 7.75% | Overnight |
| 7.85% | 1 Month |
| 7.90% | 3 Month |
| 7.95% | 6 Month |
| 8.00% | 1 Year |
| 8.10% | 2 Year |
| 8.15% | 3 Year |
| Base rate - 9.00% | Past Trend |
SBI Interest Rates
| Home Loan Interest Rates | 8.35% * Floating | Detail |
| Loan Against Property Rates | 9.85% * Floating | Detail |
| Personal Loan Interest Rates | 12.50% * | Detail |
| Fixed Deposit Interest Rates | 5.50% to 6.75% * | Detail |
Past Trend MCLR Rate of SBI
SBI MCLR Rate History
Revised
Date
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
MCLR
2 Year
MCLR
MCLR
3 Year
MCLR
MCLR
5 Year
MCLR
MCLR
01st Jul 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Jun 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st May 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Apr 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Mar 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Feb 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Jan 17
7.75%
7.85%
7.90%
7.95%
8.00%
8.10%
8.15%
-
01st Dec 16
8.65%
8.75%
8.80%
8.85%
8.90%
9.00%
9.05%
-
01st Nov 16
8.65%
8.75%
8.80%
8.85%
8.90%
9.00%
9.05%
-
01st Oct 16
8.65%
8.75%
8.80%
8.85%
8.90%
9.00%
9.05%
-
01st Sep 16
8.85%
8.95%
9.00%
9.05%
9.10%
9.20%
9.25%
-
01st Aug 16
8.85%
8.95%
9.00%
9.05%
9.10%
9.20%
9.25%
-
01st Jul 16
8.90%
9.00%
9.05%
9.10%
9.15%
9.25%
9.30%
-
01st Jun 16
8.90%
9.00%
9.05%
9.10%
9.15%
9.25%
9.30%
-
01st May 16
8.90%
9.00%
9.05%
9.10%
9.15%
9.25%
9.30%
-
SBI MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, SBI decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
- Note that the RBI does not decide the MCLR 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. SBI has different MCLR base rates ranging from 7.75% to 8.15% for different tenures
Changes in MCLR of SBI
- MCLR rate can be revised by SBI every month
- Note that it is not mandatory for SBI to revise its rate every month and it may choose to retain the same rate for a longer period
SBI home loan interest rate and MCLR
- Every floating rate loan sanctioned by SBI 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, 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 SBI 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 SBI will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.15%. This loan will initially be priced at 9.65%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.9%, the loan will be priced at 9.4% for the next year
Past trend of SBI Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 01st Jul 17 | 9.00% | |
| 01st Apr 17 | 9.10% | |
| 01st Jan 17 | 9.25% 0.05% | |
| 04th Oct 16 | 0.25% | |
| 05th Apr 16 | 0.25% | |
| 05th Oct 15 | 9.30% 0.4% | |
| 29th Sep 15 | 0.5% | |
| 02nd Jun 15 | 0.25% | |
| 02nd Jun 15 | 9.70% 0.15% | |
| 07th Apr 15 | 9.85% 0.15% | |
| 04th Mar 15 | 0.25% | |
| 15th Jan 15 | 0.25% | |
| 28th Jan 14 | 0.25% | |
| 07th Nov 13 | 10.00% 0.2% | |
| 29th Oct 13 | 0.25% | |
| 20th Sep 13 | 0.25% | |
| 19th Sep 13 | 9.80% 0.1% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 04th Feb 13 | 9.70% 0.05% | |
| 29th Jan 13 | 0.25% | |
| 20th Sep 12 | 9.75% 0.25% | |
| 17th Apr 12 | 0.5% | |
| 25th Oct 11 | 0.25% | |
| 16th Sep 11 | 0.25% | |
| 13th Aug 11 | 10.00% 0.5% | |
| 26th Jul 11 | 0.5% | |
| 11th Jul 11 | 9.50% 0.25% | |
| 16th Jun 11 | 0.25% | |
| 12th May 11 | 9.25% 0.75% | |
| 03rd May 11 | 0.5% | |
| 25th Apr 11 | 8.50% 0.5% | |
| 17th Mar 11 | 0.25% | |
| 01st Mar 11 | 8.00% 0.25% | |
| 14th Feb 11 | 8.25% 0.65% | |
| 25th Jan 11 | 0.25% | |
| 02nd Nov 10 | 0.25% | |
| 21st Oct 10 | 7.60% 0.1% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 7.50% |
SBI Base Rate Vs. RBI Repo Rate Trend
About SBI
- SBI is a Public Sector Bank in India with 16,333 branches, 54,560 ATM's and 222,033 employees across the country.
- SBI's registered office is located at State Bank Bhavan, Mumbai.
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 55,015 crs. and Standalone net profit of Rs. 13,102 crs. SBI reported total deposits of Rs. 1,576,793 crs and total advances of Rs. 1,300,026 crs.
- SBI's management is led by its CEO Ms. Arundhati Bhattacharya.
- Its current Base Rate is 9.00%, which was last revised on 01st Jul 17.
