If I migrate my home loan to MCLR system can I move it back to the base rate system?
No if you take the call of moving your home loan to the new marginal cost of funds based lending rate or MCLR system you cannot go back to the base rate system. Know that you will need to pay a conversion fee and some administrative charges to make your loan move from base rate to MCLR system.
Once you switch to the Marginal Cost of Lending Rate (MCLR) system, you may not be able to change to the base rate again. If you really want to go back to the base rate system, consider transferring your Home Loan to a Non-Banking Finance Company or Housing Finance Company. These firms follow the Benchmark Prime Lending Rate (BPLR) system. This is very close to the base rate system followed by banks.