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Base Rate News
Your home, auto, personal loan interest rates to change! Know what it means for money you borrowed
Fri, Dec 07, 2018
In its December 2018 policy, RBI firmly said Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and Marginal Cost of Funds based Lending Rate (MCLR) will be replaced by an external benchmark from April 2019.
Are you paying EMIs? If bank hikes base rate, should you start panicking?
Tue, Sep 18, 2018
The only difference is that, base rate is determined by the average cost of funds, in contrast to the MCLR which depends on the current cost of funds.
Get ready to pay more on your personal, car, home loan EMIs
Wed, Feb 14, 2018
On February 7, HDFC Bank increased MCLR by 10 basis points for some tenures, while Axis Bank in January 2018 had raised the benchmark by 5 basis points.
Bank of Baroda slashes base rate and Benchmark Prime Lending Rate by 0.35%
Thu, Sep 28, 2017
As per the new rates by Bank of Baroda, base rate will be 9.15% per annum as against existing 9.50% per annum.
Bi-monthly monetary policy: RBI says MCLR performance not 'entirely satisfactory'
Wed, Aug 02, 2017
RBI feels base rate has turned out to be cause of concern which is why it has appointed a group to study various aspects of the MCLR system.
Kotak Mahindra Bank cuts down base rate by 10 bps
Fri, Oct 07, 2016
Following recent base rate cut moves by ICICI Bank and Bank of India (BOI), Kotak Mahindra Bank has now revised its base rate downward by 10 basis points to 9.40% per annum on Thursday.
After RBI push, DCB Bank reduces MCLR, base rate
Tue, Apr 26, 2016
MCLR for overnight lending has been slashed by 0.5% to 9.32% while it has been lowered by 0.2% to 9.72% effective May 4, DCB Bank said in a statement.