Several banks revised their Marginal Cost of Funds Based Lending Rate (MCLR), affecting borrowers differently. HDFC Bank and Punjab National Bank (PNB) increased their MCLR, which could lead to higher loan interest rates for their customers. On the other hand, Canara Bank took a more borrower-friendly approach by reducing its MCLR by 10 basis points (bps), potentially lowering EMIs for its customers with loans linked to MCLR. Meanwhile, Bank of Baroda and IDBI Bank opted to keep their MCLR unchanged, meaning their borrowers will not see any immediate impact on their loan interest rates. Check latest lending rate in HDFC Bank, Bank of Baroda, PNB, Canara Bank, IDBI Bank.
