Standard Chartered Bank Base Rate, Standard Chartered Bank MCLR Base Rate Past Trend

Current Standard Chartered Bank 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 CRR at 4%. 100% CRR on fresh deposits withdrawn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 8.50%
1 Month 8.75%
3 Month 8.85%
6 Month 9.05%
1 Year 9.10%
2 Year 9.30%
3 Year 9.40%
Current MCLR base rate of Standard Chartered Bank ranges from 8.50% to 9.40% depending on the reset frequency of the loan. Rates are revised every month.
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Standard Chartered Bank Interest Rates
Home Loan Interest Rates 9.35% * Floating Detail
Loan Against Property Rates 10.75% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 4.25% to 7.25% * Detail

Past Trend Base Rate of Standard Chartered Bank

Standard Chartered 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
08th Dec 16
8.50%
8.75%
8.85%
9.05%
9.10%
9.30%
9.40%
-
07th Nov 16
8.50%
8.80%
8.85%
9.05%
9.10%
9.30%
9.40%
-
07th Oct 16
8.50%
8.80%
8.85%
9.05%
9.10%
9.30%
9.40%
-
07th Sep 16
8.55%
8.75%
8.95%
9.10%
9.20%
9.35%
9.45%
-
08th Aug 16
8.55%
8.75%
8.95%
9.10%
9.20%
9.35%
9.45%
-
07th Jul 16
8.45%
8.75%
8.95%
9.15%
9.25%
9.35%
9.45%
-
07th Jun 16
8.45%
8.75%
8.95%
9.15%
9.25%
9.35%
9.45%
-
07th May 16
8.45%
8.80%
8.95%
9.25%
9.30%
9.45%
9.50%
-
01st Apr 16
8.45%
9.20%
9.35%
9.45%
9.45%
9.45%
9.45%
9.65%

Standard Chartered Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Standard Chartered 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. Standard Chartered Bank has different MCLR base rates ranging from 8.50% to 9.40% for different tenures

Changes in MCLR Base rate of Standard Chartered Bank

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

Standard Chartered Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Standard Chartered 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 Standard Chartered 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 Standard Chartered 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 9.45%. This loan will initially be priced at 9.95%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.2%, the loan will be priced at 9.7% for the next year

Past trend of Standard Chartered Bank 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 9.50% decreased by 0.75%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
07th Aug 14 9.75% increased by 0.25%
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
12th Sep 13 10.25% increased by 0.5%
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
01st Oct 12 9.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Sep 11 9.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
22nd Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
20th May 11 9.25% increased by 0.75%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
21st Feb 11 8.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
21st Dec 10 8.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.50% 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 7.25%

Standard Chartered Bank Base Rate Vs. RBI Repo Rate Trend

About Standard Chartered Bank

  • Standard Chartered Bank is a Foreign Bank in India with 101 branches, 249 ATM's and 7,302 employees across the country.
  • Standard Chartered Bank's registered office is located at .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,583 crs. and Standalone net profit of Rs. 3,051 crs. Standard Chartered Bank reported total deposits of Rs. 72,848 crs and total advances of Rs. 68,402 crs.
  • Standard Chartered Bank's management is led by its CEO Mr. Zarin Daruwala.
  • Highest fixed deposit interest offered by Standard Chartered Bank is 7.00% per annum on deposits.
  • Its current Base Rate is 9.50%, which was last revised on 05th Oct 15.
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News - Dec 2016
04th Aug 16 Standard Chartered India loss narrows to 25 million dollar in H1
Standard Chartered Bank narrowed its losses in India to 25 million dollar in the first six months of 2016. The bank earned 25 million dollar loss in the first half of this year which is lower than the 276 million dollar loss it reported in the corresponding period last year. Globally, however, the bank earned a 1 billion dollar profit with 13% drop in operating cost in the first half of the current year.
06th Jun 16 Standard Chartered to hire people to build up retail lending segment
Standard Chartered Bank plans to step up recruitment in India in the next few quarters as part of efforts to build up the lucrative but competitive retail lending segment to return to growth. The new staff will be mostly from rivals with experience in front end operations to help build relationships quickly, launch new products and get new clients in areas like wealth management. The bank plans to expand the its retail book with mortgages, personal loans and lending to small entrepreneurs through its network of branches in India. The bank will also invest in technology in the front and back ends, especially in mobile and online banking as part of this retail thrust.
09th Mar 16 Standard Chartered makes retail banking paperless
Standard Chartered Bank announced the global launch of a digital tablet-based sales-and-service tool that brings the bank to clients. Seamlessly integrated with the Bank back end infrastructure, Retail Workbench will allow sales staff to open an account for a client in any location and makes banking services like loan approvals and credit card issuance fast, simple and completely paperless. Retail Workbench is now going live in six markets in Malaysia, India, the UAE, Bangladesh, Nigeria and Kenya and is a part of the bank last year announcement that it will invest 1.5bn dollar in technology over three years
24th Feb 16 StanChart India posts Rs 6729 Cr loss
Standard Chartered Bank, one of the largest foreign banks in India, has posted a loss in 2015 due to rising bad loans and slow growth in loans and deposits
18th Nov 15 Zarine Daruwala quits ICICI Bank to join Standard Chartered
SCB, which faced losses this year due to rising bad loans, has appointed Zarin Daruwala of ICICI Bank as its India CEO
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