List of 8 banks that have revised home loans and other loan interest rates: In January 2024, some banks have made some changes in their marginal cost-based lending rates (MCLR). IDBI Bank, Bank of Baroda, ICICI Bank, Canara Bank, Punjab National Bank (PNB), Bank of India, and HDFC Bank are among the banks that have revised their MCLR.
List of 8 banks that have revised home loan and other loan interest rates in January 2024
ICICI Bank Loan Interest Rates
According to the official website of ICICI Bank, the bank has increased its MCLR by 10 basis points from January 1, 2024. The overnight rate is 8.5% to 8.6%. MCLR-based lending rate for one month has increased from 8.5% to 8.6%. The three-month rate has increased from 8.55% to 8.65%. The six-month rate is 8.90% to 9%. The one-year rate has increased from 9% to 9.10%.
PNB Bank Loan Interest Rates
PNB Bank has increased its MCLR by 5 basis points with effect from January 1, 2024. The overnight rate is 8.2% to 8.25%. The MCLR-based loan rate for one month has increased from 8.25% to 8.30%. The three-month rate has increased from 8.35% to 8.40%. The six-month rate has increased from 8.55% to 8.60%. The one-year rate has been increased from 8.65% to 8.70%.
Yes Bank Loan Interest Rates
The new rates in Yes Bank have become effective from January 1, 2024. The overnight rate is 9.2%. The MCLR-based loan rate for one month is 9.45%. The rate for three months is 10%. The six-month rate is 10.25%. The one-year rate is 10.50%.
Bank of India Bank Loan Interest Rates
Bank of India has increased the overnight period by 5 bps and it will be effective from January 1, 2024. The overnight rate is 7.95% to 8%. The MCLR-based loan rate for one month is 8.25%. The three-month rate is 40%. The six-month rate is 8.60%. The one-year rate is 8.80%.
Bank of Baroda Loan Interest Rates
Bank of Baroda (BoB) has revised its MCLR with effect from January 12, 2023. Overnight MCLR has been increased from 8% to 8.5%. One month MCLR is unchanged at 8.3%. Three-month MCLR is unchanged at 8.4%. Six-month MCLR has been increased by 5 bps from 8.55% to 8.60%. One year MCLR has increased from 8.75% to 8.80%.
Canara Bank Loan Interest Rates
The bank has increased its marginal cost of lending (MCLR) based lending rates by 5 basis points for various tenors from January 2023. The overnight rate is 8% to 8.05%. The one-month rate has increased from 8.1% to 8.15%. The three-month rate has increased from 8.20% to 8.25%. The six-month rate has been increased from 8.55% to 8.60%. The one-year rate has increased from 8.75% to 8.80%. The two-year rate increased to 9.10%. The three-year rate is 9.20%.
The Canara Bank Repo Linked Lending Rate (RLLR) effective January 12 is 9.25%.
HDFC Bank Loan interest Rates
HDFC Bank’s MCLR ranges between 8.80 percent to 9.30 percent. Overnight MCLR has been increased by 10 bps from 8.80 percent to 8.70 percent. HDFC Bank’s one-month MCLR has increased by 5 bps from 8.75 percent to 8.80 percent. MCLR for three months will be increased from 8.95 percent to 9 percent. Six-month MCLR has been increased to 9.20. The one-year MCLR, which is linked to many consumer loans, has been increased by 5 bps to 9.25 percent from 9.20 percent. The 3-year MCLR has been kept unchanged at 9.30 percent.
IDBI Bank Loan interest Rates
IDBI Bank’s latest MCLR for the overnight period is 8.3%. MCLR for one month is 8.45%. The three-month MCLR rate for IDBI Bank customers is 8.75%. Six-month MCLR is 8.95 percent. One year MCLR is 9 percent. MCLR for two years is 9.55 percent. MCLR for three years is 9.95 percent. These rates have become effective from January 12, 2024.
