Syndicate Bank MCLR Rates, Syndicate Bank Base Rate – Jun 2017
Last Updated 23rd Jun 2017
Syndicate Bank MCLR Rate – Current Rate, Past Trend
Current MCLR of Syndicate Bank ranges from 8.30% to 8.75% depending on the reset frequency of the loan. Rates are revised every month.
| Syndicate Bank MCLR, Base Rate | Tenure |
|---|---|
| 8.30% | Overnight |
| 8.35% | 1 Month |
| 8.40% | 3 Month |
| 8.60% | 6 Month |
| 8.75% | 1 Year |
| Base rate - 9.50% | Past Trend |
Syndicate Bank Interest Rates
| Home Loan Interest Rates | 8.75% * Floating | Detail |
| Loan Against Property Rates | 11.50% * Floating | Detail |
| Personal Loan Interest Rates | 14.20% * | Detail |
| Fixed Deposit Interest Rates | 4.75% to 6.80% * | Detail |
Past Trend MCLR Rate of Syndicate Bank
Syndicate Bank 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
10th Jun 17
8.30%
8.35%
8.40%
8.60%
8.75%
-
-
-
10th May 17
8.30%
8.35%
8.40%
8.60%
8.75%
-
-
-
10th Apr 17
8.30%
8.35%
8.40%
8.60%
8.75%
-
-
-
10th Jan 17
8.30%
8.35%
8.40%
8.60%
8.75%
-
-
-
07th Oct 16
9.30%
9.35%
9.35%
9.40%
9.45%
-
-
-
11th Jul 16
9.40%
9.45%
9.45%
9.50%
9.55%
-
-
-
01st Apr 16
9.50%
9.55%
9.55%
9.60%
9.65%
-
-
-
Syndicate Bank MCLR Base Rate Vs. RBI
- RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Syndicate 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. Syndicate Bank has different MCLR base rates ranging from 8.30% to 8.75% for different tenures
Changes in MCLR of Syndicate Bank
- MCLR rate can be revised by Syndicate Bank every month
- Note that it is not mandatory for Syndicate Bank to revise its rate every month and it may choose to retain the same rate for a longer period
Syndicate Bank home loan interest rate and MCLR
- Every floating rate loan sanctioned by Syndicate 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 Syndicate 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 Syndicate 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 9.65%. This loan will initially be priced at 10.15%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.4%, the loan will be priced at 9.9% for the next year
Past trend of Syndicate Bank Base Rate vs RBI Repo Rate
| Date | RBI Rates | Bank Rates |
|---|---|---|
| 10th Apr 17 | 9.50% | |
| 04th Oct 16 | 0.25% | |
| 11th Jul 16 | 9.60% 0.1% | |
| 05th Apr 16 | 0.25% | |
| 05th Oct 15 | 9.70% 0.3% | |
| 29th Sep 15 | 0.5% | |
| 08th Jun 15 | 10.00% 0.25% | |
| 02nd Jun 15 | 0.25% | |
| 04th Mar 15 | 0.25% | |
| 15th Jan 15 | 0.25% | |
| 28th Jan 14 | 0.25% | |
| 29th Oct 13 | 0.25% | |
| 20th Sep 13 | 0.25% | |
| 03rd May 13 | 0.25% | |
| 19th Mar 13 | 0.25% | |
| 13th Feb 13 | 10.25% 0.25% | |
| 29th Jan 13 | 0.25% | |
| 01st May 12 | 10.50% 0.25% | |
| 17th Apr 12 | 0.5% | |
| 25th Oct 11 | 0.25% | |
| 16th Sep 11 | 0.25% | |
| 01st Aug 11 | 10.75% 0.5% | |
| 26th Jul 11 | 0.5% | |
| 05th Jul 11 | 10.25% 0.25% | |
| 16th Jun 11 | 0.25% | |
| 06th May 11 | 10.00% 0.5% | |
| 03rd May 11 | 0.5% | |
| 17th Mar 11 | 0.25% | |
| 03rd Feb 11 | 9.50% 0.5% | |
| 25th Jan 11 | 0.25% | |
| 15th Dec 10 | 9.00% 0.5% | |
| 02nd Nov 10 | 0.25% | |
| 04th Oct 10 | 8.50% 0.25% | |
| 16th Sep 10 | 0.25% | |
| 27th Jul 10 | 0.25% | |
| 02nd Jul 10 | 0.25% | |
| 01st Jul 10 | 8.25% |
Syndicate Bank Base Rate Vs. RBI Repo Rate Trend
About Syndicate Bank
- Syndicate Bank is a Public Sector Bank in India with 3,671 branches, 3,427 ATM's and 27,446 employees across the country.
- Syndicate Bank's registered office is located at Post Box No 1 Manipal-576104 Karnataka India .
- For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,520 crs. and Standalone net profit of Rs. 1,523 crs. Syndicate Bank reported total deposits of Rs. 255,388 crs and total advances of Rs. 205,804 crs.
- Syndicate Bank's management is led by its CEO Mr. Arun Shrivastava.
- Its current Base Rate is 9.50%, which was last revised on 10th Apr 17.
