In April 2025, several major Indian banks have either revised or maintained their Marginal Cost of Funds-based Lending Rates (MCLR), which directly impact interest rates on various loans including home, auto, and personal loans. Here’s a quick comparison of the latest MCLR rates from top banks including HDFC Bank, SBI, Bank of Baroda, Canara Bank, and others.What is MCLR?
The MCLR is a benchmark rate used by banks to determine interest rates on various floating-rate loans, including home loans, personal loans, and auto loans. A decrease in MCLR translates to a potential drop in loan EMIs or a shorter loan tenure, benefiting borrowers in the long term.
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Bank of Baroda: Check the latest lending rates
Bank of Baroda MCLR in March remains unchanged from the previous month’s rates. The overnight MCLR is 8.15%; the one-month MCLR is 8.35%; the three-month MCLR is 8.55%; the six-month MCLR is 8.80%; and the one-year MCLR is 9%. The rates are effective from April 12, 2025.
| Sr. No. | MCLR Benchmark | MCLR in (%) w.e.f 12.04.2025 |
| 1 | Overnight MCLR | 8.15 |
| 2 | 1 Month MCLR | 8.35 |
| 3 | 3 Month MCLR | 8.55 |
| 4 | 6 Month MCLR | 8.8 |
| 5 | 1 Year MCLR | 9 |
HDFC Bank MCLR loan interest rates April 2025
HDFC bank has reduced the overnight and one-month MCLR tenures by 10 bps, from 9.20% to 9.10%. The three-month MCLR has been cut from 9.30% to 9.20%, and the six-month MCLR has been reduced from 9.40% to 9.30%. The one-year and two-year MCLR rates have been reduced from 9.40% to 9.30%. The three-year MCLR has been reduced from 9.45% to 9.35%.
| Tenor | MCLR |
| Overnight | 9.10% |
| 1 Month | 9.10% |
| 3 Month | 9.20% |
| 6 Month | 9.30% |
| 1 Year | 9.30% |
| 2 Year | 9.30% |
| 3 Year | 9.35% |
Also read: Good news for borrowers! HDFC Bank cuts these lending rates by 10 bps; check details
Canara Bank MCLR loan interest rates April 2025
Canara Bank has kept its marginal cost of funds-based lending rate (MCLR) unchanged. The overnight MCLR is 8.30%; the one-month MCLR is 8.35%; the three-month MCLR is 8.55%; the six-month MCLR is 8.90%; and the one-year MCLR is 9.10%. The two year MCLR is 9.25% and 9.30% three year MCLR. The rates are effective from April 12, 2025.
Bank of India MCLR loan interest rates April 2025
Bank of India has kept the MCLR unchanged. According to the Bank of India’s website, the latest MCLR for overnight tenure is 8.25%. For a one-month tenure, the MCLR is at 8.45%. The three-month MCLR rate for Bank of India’s customers is 8.60%; the six-month MCLR is 8.85%; the one-year MCLR is 9.05%; and the three-year MCLR is 9.20%. These rates are effective from April 1, 2025, onwards.
| Sl.No | Tenor wise MCLR | Rate effective from 01.04.2025 |
| 1 | Overnight MCLR | 8.25% |
| 2 | 1 Month MCLR | 8.45% |
| 3 | 3 Month MCLR | 8.60% |
| 4 | 6 Month MCLR | 8.85% |
| 5 | 1 Year MCLR | 9.05% |
| 6 | 3 Year MCLR | 9.20% |
Latest SBI MCLR loan interest rates April 2025
SBI has kept the lending rates unchanged on all tenures. SBI overnight and one-month MCLR is at 8.20%. The three-month MCLR stands at 8.55%. MCLR for six-month tenure is at 8.90%. The MCLR rate for one-year tenure which is typically linked to auto loans is 9%. The MCLR for the two- and three-year tenure is 9.05% and 9.10% respectively. The rates are effective from April 15, 2025.
| Tenor | Existing MCLR (In %) | Revised MCLR (In %)* |
| Over night | 8.2 | 8.2 |
| One Month | 8.2 | 8.2 |
| Three Month | 8.55 | 8.55 |
| Six Month | 8.9 | 8.9 |
| One Year | 9 | 9 |
| Two Years | 9.05 | 9.05 |
| Three Years | 9.1 | 9.1 |
