Who wrote this article?

Shreesh Biradar, Capitalmind's research team.

What topics does this article cover?

Banks base rate, Interest rates of Indian Banks, MCLR

Banks: MCLR Update – 28th October 2016

28 Oct 2016Shreesh Biradar1 min read

Quick Facts

What is "Banks: MCLR Update – 28th October 2016" about?
What category is this article in?: Economy
Who wrote this article?: Shreesh Biradar, Capitalmind's research team.
When was this article published?: Published 28 October 2016.
How long does this article take to read?: 1 min read
What topics does this article cover?: Banks base rate, Interest rates of Indian Banks, MCLR

As a follow-up note on** MCLR** (Marginal Cost of funds based Lending Rate) and how it is changing the way banks lend in India, we are publishing the rates of 34 SCBs(Scheduled Commercial Banks) as on October 28, 2016. According to RBI’s mandate, Banks have to review and publish their MCLRs each month.

Please click here to check our previous update on MCLR Rates for September 2016.

We have created a MCLR Bank Base Rate Tracker, where the rates of 34 major banks are presented. The rates include:

Important RBI Rates (repo rate, reverse repo and MSF);
Base Rate;
MCLR (of varying tenors);
**Deposit Rate (**for amounts less than Rs. 1 cr., between 1 and 2 years)

deposit-loan-interest-rates-indian-banks-october-2016