Base Rate of BOB Bank

HI I would like to know what is the Base rate as well as information about MCLR Base rate and also the current base rate of Bank of Baroda?

Base Rate is the base financing cost at which a bank can loan with the exception of credits to its own representatives, its resigned workers and against bank's own particular stores

All skimming and settled rate advances authorized by banks before first April, 2016 were estimated utilizing base rate as benchmark.

MCLR Base rate

Borrowers who have taken credit from banks before first April 2016, their advance will be estimated at base rate, rather than MCLR

On the off chance that you check the MCLR and base rate of banks appeared above, you will see that MCLR rates are for the most part 5 - 50 bps bring down contrasted with base rate. The explanation behind this is MCLR is firmly connected to repo rate, and henceforth it has enhanced the transmission of RBI's repo rate slice to the end borrower

MCLR
MCLR rate w.e.f from 07.12.2016

Sr. No.
MCLR Benchmark
MCLR in (%)

1
Overnight MCLR
8.80

2
1 Month MCLR
8.85

3
3 Month MCLR
8.95

4
6 Month MCLR
9.00

5
1 year MCLR
9.05

6
3 year MCLR
9.05

7
5 year MCLR
9.25

Base Rate (per annum) w.e.f. 01.07.2016 9.60%

The BPLR for all the existing accounts is 13.90% per annum w.e.f from 05.10.2015

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Answered By StudyChaCha Member