Bank of America has reduced its One Year MCLR Base Rate or the minimum lending rate by 0.40%, or 40 basis points with effect from Tuesday, May 07, 2019. Bank of America has revised its One Year MCLR Base Rate from 8.20 percent to 7.80 percent per annum.
Bank of America – Current MCLR Base Rate and Loan Interest Rate
New Delhi (Delhi, India), June 03, 2019
Bank of America Decreases One Year MCLR Base Rate to 7.80 Percent Per Annum
The Bank of America, N.A. India has reduced its benchmark MCLR (Marginal Cost of Funds based Lending Rate) Base Rate for new loans by 0.40 percent, or 40 basis points (BPS) with effect from Tuesday, May 07, 2019.
Bank of America India has revised its One Year MCLR Base Rate or the minimum lending rate from 8.20 percent to 7.80 percent per annum.
Bank of America’s new MCLR Base Rate will be applicable for all new loans and the existing loans that may come up for renewal.
Bank of America India applies the interest rates on all new loans and advances with reference to MCLR based rates from April 01, 2016 onwards.
The Reserve Bank of India (RBI) has asked all banks to set at least five MCLR based benchmark lending rates – Overnight MCLR, One Month MCLR, Three Month MCLR, Six Month MCLR, and One Year MCLR. The loans linked with MCLR will be reset for a maximum of one year tenure.
Bank of America’s Marginal Cost of Funds based Lending Rate (MCLR) Historical Data
Bank of America’s MCLR Base Rate effective from May 07, 2019 is:
Overnight MCLR: 7.20%
One Month MCLR: 7.25%
Three Month MCLR: 7.45%
Six Month MCLR: 7.65%
One Year MCLR: 7.80%
Bank of America’s MCLR Base Rate effective from December 07, 2018 was:
Overnight MCLR: 7.45%
One Month MCLR: 7.55%
Three Month MCLR: 7.75%
Six Month MCLR: 7.95%
One Year MCLR: 8.20%
Bank of America’s MCLR Base Rate effective from November 07, 2018 was:
Overnight MCLR: 6.80%
One Month MCLR: 6.90%
Three Month MCLR: 7.10%
Six Month MCLR: 7.30%
One Year MCLR: 7.50%
Bank of America’s MCLR Base Rate effective from September 07, 2018 was:
Overnight MCLR: 7.70%
One Month MCLR: 7.75%
Three Month MCLR: 7.90%
Six Month MCLR: 8.05%
One Year MCLR: 8.20%
Bank of America’s MCLR Base Rate effective from August 07, 2018 was:
Overnight MCLR: 7.10%
One Month MCLR: 7.20%
Three Month MCLR: 7.35%
Six Month MCLR: 7.50%
One Year MCLR: 7.60%
Bank of America Ups Base Rate to 9.10 Percent Per Annum
The Bank of America India has raised its Base Rate (BR) for old loans by 0.40 percent, or 40 basis points (BPS) with effect from Sunday, March 23, 2016.
Bank of America has revised its Base Rate or the minimum lending rate from 8.70 percent to 9.10 percent per annum.
Bank of America decides its interest rates on all loans and advances lent until March 31, 2016 with reference to Base Rate from July 01, 2010 onwards.
Bank of America’s Base Rate Historical Data
March 23, 2016 Base Rate: 9.10%
October 13, 2015 Base Rate: 8.70%
May 26, 2015 Base Rate: 9.00%
January 21, 2015 Base Rate: 9.25%
October 07, 2014 Base Rate: 9.50%
March 26, 2014 Base Rate: 9.75%
November 26, 2013 Base Rate: 9.75%
October 03, 2013 Base Rate: 10.25%
September 13, 2013 Base Rate: 10.75%
August 02, 2013 Base Rate: 10.25%
April 15, 2013 Base Rate: 9.00%
October 01, 2012 Base Rate: 9.25%
June 29, 2012 Base Rate: 9.75%
December 26, 2011 Base Rate: 10.00%
August 05, 2011 Base Rate: 9.50%
May 10, 2011 Base Rate: 9.00%
March 29, 2011 Base Rate: 8.50%
February 04, 2011 Base Rate: 8.00%
November 29, 2010 Base Rate: 7.50%
October 04, 2010 Base Rate: 7.25%
July 01, 2010 Base Rate: 6.75%