Let us take a look at the loan interest rates for the month of March of top banks like Canara Bank, ICICI Bank, HDFC Bank, Punjab National Bank (PNB), and Bank of Baroda.
Latest Canara Bank lending rates
According to the Canara Bank website, the overnight rate MCLR stands at 8.15%. The one-month rate is 8.25%. The three-month MCLR rate is 8.35%. The six-month rate increased from 8.70%. The one-year rate is 8.90%. While, two year and three year stands at 9.20% and 9.30% respectively. The rates are applicable from March 12, 2024.
Latest ICICI Bank lending rates
According to the ICICI Bank website, the overnight, one-month MCLR rate is revised to 8.60 percent. The three-months, six months MCLRs at ICICI Bank is at 8.65 percent, and 9 percent, respectively. The one-year MCLR is revised to 9.10 percent. The rates are applicable from March 1, 2024.
MCLR effective March 1, 2024 | |
Tenures | I-MCLR |
Overnight | 8.60% |
One Months | 8.60% |
Three Months | 8.65% |
Six Months | 9.00% |
One Year | 9.10% |
Note: Going forward, I-MCLR shall be published on 22nd day of every month beginning from March 22, 2024Latest Punjab National Bank lending rates
According to the PNB Bank website, the overnight is increased to 8.30 percent, one-month MCLR rate has been increased to 8.35 percent. The three-months, six months MCLRs at ICICI Bank stands at 8.45 percent, and 8.65 percent, respectively. The one-year MCLR is stands at 8.80percent and 9.10 percent for three years.
MCLR W.E.F. 01-03-2024 | |
MCLR TENOR | Revised W.E.F. 01.03.2024 |
Overnight | 8.30% |
One month | 8.35% |
Three month | 8.45% |
Six month | 8.65% |
One year | 8.80% |
Three years | 9.10% |
Latest Bank of Baroda lending rates
The bank has not changed the previous rate. The overnight MCLR is at 8.05 percent. The one-month MCLR is unchanged at 8.3 percent. The three-month MCLR is unchanged at 8.4 percent. The six-month MCLR is 8.60 percent. The one-year MCLR is 8.80 percent.
Sr. No. | MCLR Benchmark | MCLR in (%) |
1 | Overnight MCLR | 8.05 |
2 | 1 Month MCLR | 8.3 |
3 | 3 Month MCLR | 8.4 |
4 | 6 Month MCLR | 8.6 |
5 | 1 Year MCLR | 8.8 |
Latest HDFC Bank lending rates
The one-month MCLR of HDFC Bank is unchanged at 8.95 per cent. The three-month MCLR is 9.15 percent. The six-month MCLR is at 9.30%. The one-year MCLR, which is linked to many consumer loans is unchanged at 9.30 per cent. The 3-year MCLR is kept unchanged at 9.35 percent.
Tenor | MCLR |
Overnight | 8.95% |
1 Month | 8.95% |
3 Month | 9.15% |
6 Month | 9.30% |
1 Year | 9.30% |
2 Year | 9.35% |
3 Year | 9.35% |