Marginal Cost of the Fund-Based Lending Rate (MCLR) is the minimum interest rate below which a bank or a financial institution cannot lend you loans. Here are top banks and their lending rates offered in June 2024
ET Online
2/7
Latest SBI MCLR
The MCLR-based rates will now range between 8.10% and 8.95%. The overnight MCLR is raised from 8% to 8.10%, while that of one month and three-month tenure from 8.20% to 8.30%. Among others, the six-month MCLR stands at 8.55% from 8.45%. The one year MCLR is now at 8.65% from 8.55%. For tenure of two years MCLR is 8.75% from 8.85%, respectively.
ET Online
3/7
HDFC Bank lending rates
The overnight MCLR is 8.95%. The one-month MCLR of HDFC Bank is now at 9%. The three-month MCLR is 9.15%. The six-month MCLR is 9.30%. The one-year MCLR, which is linked to many consumer loans, has been raised 9.30%. The 2 and 3 year MCLR is at 9.35%. The rates are effective from June 7, 2024.
ET Online
4/7
Yes Bank lending rates
According to the Yes bank website, the new rates are with effect from June 1, 2024. The overnight rate is 9.25%. The MCLR based lending rate for one-month is 9.55%. The three month rate is 10.20%. The six-month rate is 10.45%. The one-year rate is 10.60%.
ET Online
5/7
Canara Bank lending rates
The overnight rate is 8.15%. The one-month rate is 8.25%. The three-month rate is 8.35%. The six-month rate is at 8.70%. The one-year rate is 8.90%. The two-year rate is at 9.20%. The three-year rate is 9.30%. The rates are effective from June 12, 2024.
ET Online
6/7
PNB lending rates
According to the PNB website, the overnight rate is 8.25%. The MCLR based lending rate for one-month is 8.30%. The three-month rate is 8.50%. The one year rate is 8.85% and three year tenure is 9.10%. The rates are effective from June 1, 2024.
ET Online
7/7
IDBI Bank lending rates
According to the IDBI Bank website, the latest MCLR for overnight tenor is 8.35%. For one-month tenure the MCLR is 8.50%. The three-month MCLR rate for IDBI Bank customers is 8.80%. The six month MCLR is 9%. The one year MCLR is 9.05%. The two year MCLR is 9.60%. The three year MCLR is 10%. These rates are effective from June 12, 2024.
