1.Bank of Baroda (BoB)
Bank of Baroda (BoB)’s latest MCLR rates are effective from May 12, 2024. The overnight rate is 8.10%, the one-month rate is 8.30%, the three-month rate is 8.45%, the six-month rate is 8.65%, and the one-year rate is 8.85%.
| Sr. No. | MCLR Benchmark | MCLR in (%) |
| 1 | Overnight MCLR | 8.1 |
| 2 | 1 Month MCLR | 8.3 |
| 3 | 3 Month MCLR | 8.45 |
| 4 | 6 Month MCLR | 8.65 |
| 5 | 1 Year MCLR | 8.85 |
2. HDFC Bank
HDFC Bank’s overnight MCLR is 8.95%. The one-month MCLR is now 9%. For three months, it’s 9.15%, and for six months, it’s 9.30%. The one-year MCLR, commonly used for consumer loans, has been increased to 9.30%. Additionally, the two and three-year MCLR rates stand at 9.35%. These rates came into effect from May 7, 2024.
| Tenor | MCLR |
| Overnight | 8.95% |
| 1 Month | 9.00% |
| 3 Month | 9.15% |
| 6 Month | 9.30% |
| 1 Year | 9.30% |
| 2 Year | 9.35% |
| 3 Year | 9.35% |
3. Yes Bank
As per the Yes Bank website, the updated rates took effect from May 1, 2024. The overnight rate stands at 9.25%. For one month, the MCLR-based lending rate is 9.60%. Moving on, the three-month rate is 10.20%, while the six-month rate is 10.45%. Lastly, the one-year rate stands at 10.60%.
ALSO READ | Senior Citizens Savings Scheme vs Bank FDs: Interest rates, tax benefits, and deposit limits compared
4. Canara Bank
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 8.70%, and the one-year rate is 8.90%. Additionally, the two-year rate is 9.20%, and the three-year rate is 9.30%. These rates came into effect from May 12, 2024.
5. PNB
As per the PNB website, effective from May 1, 2024, the overnight rate is 8.25%. For one month, the MCLR-based lending rate stands at 8.30%. Similarly, for three months, it’s 8.45%. Lastly, the one-year rate is 8.80%.
| MCLR TENOR | Existing W.E.F. 01.04.2024 | Revised W.E.F. 01.05.2024 |
| Overnight | 8.30% | 8.25% |
| One month | 8.35% | 8.30% |
| Three month | 8.45% | 8.45% |
| Six month | 8.65% | 8.65% |
| One year | 8.80% | 8.80% |
| Three years | 9.10% | 9.10% |
6. IDBI Bank
As per the IDBI Bank website, effective from May 12, 2024, the overnight MCLR rate is 8.35%. For one month, it’s 8.50%. For three months, it’s 8.80%. The six-month MCLR stands at 9%, while the one-year rate is 9.05%. Furthermore, the two-year MCLR is 9.60%, and the three-year MCLR is 10%.
| Tenor | MCLR |
| Overnight MCLR | 8.35% |
| One Month MCLR (1M) | 8.50% |
| Three Month MCLR (Q) | 8.80% |
| Six Month MCLR (HY) | 9.00% |
| One year MCLR (Y) | 9.05% |
| Two Year MCLR (2Y) | 9.60% |
| Three Year MCLR (3Y) | 10.00% |
7. SBI
SBI’s overnight MCLR rate is 8%, and for one month, it’s 8.2%. Similarly, the three-month MCLR stands at 8.2%. Moving on, the six-month MCLR is 8.55%, while the one-year MCLR stands at 8.65%. Most consumer loans are typically linked to the one-year MCLR. Furthermore, the two-year MCLR is 8.75%, and the three-year MCLR is 8.85%. These rates took effect from May 15, 2024.
| Tenor | Existing MCLR (In %) | Revised MCLR (In %)* |
| Over night | 8 | 8 |
| One Month | 8.2 | 8.2 |
| Three Month | 8.2 | 8.2 |
| Six Month | 8.55 | 8.55 |
| One Year | 8.65 | 8.65 |
| Two Years | 8.75 | 8.75 |
| Three Years | 8.85 | 8.85 |
