Here are the updated MCLR rates from the abovementioned banks, as listed by ET:
ICICI Bank
As per the website of ICICI bank, it has increased its MCLR by 10 basis points, effective January 1.The overnight rate has been adjusted to 8.6% from the previous 8.5%, the one-month MCLR-based lending rate is now 8.6% compared to the earlier 8.5%. Additionally, the three-month rate has been revised to 8.65% from 8.55%, the six-month rate to 9% from 8.90%, and the one-year rate stands at 9.10%, up from the previous 9%.
PNB
According to the PNB website, starting January 1, the bank increased its lending rates slightly. The overnight rate is now 8.25% (up from 8.2%), the one-month rate is 8.30% (up from 8.25%), the three-month rate is 8.40% (up from 8.35%), the six-month rate is 8.60% (up from 8.55%), and the one-year rate is 8.70% (up from 8.65%).
Yes Bank
As per information on the Yes Bank website, the new rates are effective from January 1. The overnight rate is 9.2%, the MCLR-based lending rate for one month is 9.45%, the three-month rate is 10%, the six-month rate is 10.25%, and the one-year rate is 10.50%.
Bank of India
As per the information on the Bank of India website, the bank has increased by 5 basis points (bps) on overnight tenure, effective from January 1. The overnight rate is now 8%, up from 7.95%. The MCLR-based lending rate for one month is 8.25%, the three-month rate is 8.40%, the six-month rate is 8.60%, and the one-year rate is 8.80%.
Bank of Baroda
Bank of Baroda has adjusted its MCLR with effect from January 12, 2023. The overnight MCLR has increased to 8.5% from the previous 8%. The one-month MCLR remains unchanged at 8.3%, and the three-month MCLR also remains steady at 8.4%. The six-month MCLR has seen a slight increase by 5 basis points to 8.60% from the previous 8.55%. The one-year MCLR is now 8.80%, up from the previous 8.75%.
Canara Bank
The bank raised its lending rates by 5 basis points across different periods starting January 2023. The overnight rate increased to 8.05% from 8%, the one-month rate is now 8.15% from 8.1%, and the three-month rate rose to 8.25% from 8.20%. The six-month rate increased from 8.55% to 8.60%, and the one-year rate is now 8.80% from 8.75%. The two-year rate rose to 9.10%, and the three-year rate is 9.20%. Additionally, Canara Bank’s Repo Linked Lending Rate (RLLR) from January 12 is 9.25%.
HDFC Bank
HDFC Bank’s lending rate ranges from 8.80% to 9.30%. The overnight rate increased by 10 basis points to 8.80%. The one-month rate rose by 5 basis points to 8.80%. The three-month rate will go up to 9%, and the six-month rate is now 9.20%. For loans tied to the one-year rate, there’s a 5 basis points increase to 9.25%. The 3-year rate remains unchanged at 9.30%.
IDBI Bank
As per information from the IDBI Bank website, the most recent Marginal Cost of Lending Rate (MCLR) for the overnight tenor is 8.3%. For a one-month tenure, the MCLR is 8.45%, while the three-month MCLR rate for IDBI Bank customers stands at 8.75%. The six-month MCLR is 8.95%, the one-year MCLR is 9%, the two-year MCLR is 9.55%, and the three-year MCLR is 9.95%. These rates are applicable from January 12.