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Standard Chartered Bank MCLR Rates, Standard Chartered Bank Base Rate – Sep 2017

Last Updated 20th Sep 2017

Standard Chartered Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of Standard Chartered Bank ranges from 8.20% to 9.00% depending on the reset frequency of the loan. Rates are revised every month.

Standard Chartered Bank MCLR, Base Rate Tenure
8.20% Overnight
8.45% 1 Month
8.50% 3 Month
8.50% 6 Month
8.55% 1 Year
8.90% 2 Year
9.00% 3 Year
Base rate - 8.70% Past Trend
Standard Chartered Bank Interest Rates
Home Loan Interest Rates 8.55% * Floating Detail
Loan Against Property Rates 9.50% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 4.25% to 7.00% * Detail

Past Trend MCLR Rate of Standard Chartered Bank

Standard Chartered Bank MCLR 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
07th Sep 17
8.20%
8.45%
8.50%
8.50%
8.55%
8.90%
9.00%
-
07th Aug 17
8.20%
8.50%
8.50%
8.50%
8.60%
8.90%
9.00%
-
07th Jul 17
8.20%
8.50%
8.50%
8.50%
8.60%
8.90%
9.00%
-
08th Jun 17
8.25%
8.70%
8.75%
8.85%
8.85%
9.20%
9.35%
-
08th May 17
8.30%
8.75%
8.85%
8.95%
8.95%
9.30%
9.45%
-
07th Apr 17
8.50%
8.75%
8.85%
8.95%
8.95%
9.20%
9.30%
-
07th Mar 17
8.50%
8.75%
8.85%
8.95%
8.95%
9.20%
9.30%
-
07th Feb 17
8.50%
8.75%
8.85%
8.95%
8.95%
9.20%
9.30%
-
07th Jan 17
8.50%
8.75%
8.85%
8.95%
9.00%
9.30%
9.40%
-
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 MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Standard Chartered Bank 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. Standard Chartered Bank has different MCLR base rates ranging from 8.20% to 9.00% for different tenures

Changes in MCLR 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 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 RBI Rates Bank Rates
02nd Aug 17 0.25%
29th Jun 17 8.70% 0.55%
08th Jun 17 0%
06th Apr 17 0%
08th Feb 17 0%
23rd Dec 16 9.25% 0.25%
07th Dec 16 0%
04th Oct 16 0.25%
05th Apr 16 0.25%
05th Oct 15 9.50% 0.25%
29th Sep 15 0.5%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
07th Aug 14 9.75% 0.5%
28th Jan 14 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
12th Sep 13 10.25% 0.75%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
01st Oct 12 9.50% 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Sep 11 9.75% 0.25%
26th Jul 11 0.5%
22nd Jul 11 9.50% 0.25%
16th Jun 11 0.25%
20th May 11 9.25% 0.75%
03rd May 11 0.5%
17th Mar 11 0.25%
21st Feb 11 8.50% 0.5%
25th Jan 11 0.25%
21st Dec 10 8.00% 0.5%
02nd Nov 10 0.25%
01st Oct 10 7.50% 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
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.
  • Its current Base Rate is 8.70%, which was last revised on 29th Jun 17.
Standard Chartered Bank Base Rate, PLR
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