List of 8 banks that have revised home loan, other loan interest rates in January 2024

In January 2024, some banks revised their marginal cost-based lending rates (MCLR). IDBI Bank, Bank of Baroda, ICICI Bank, Canara Bank, Punjab National Bank (PNB), Bank of India, and HDFC Bank are among the banks that have revised their MCLR.

Here’s the latest MCLR of the above-mentioned banks.

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ICICI Bank lending rates
According to the ICICI Bank website, the bank has hiked its MCLR by 10 basis points with effect from January 1, 2024. The overnight rate is 8.6% from 8.5%. The MCLR based lending rate for one-month is 8.6% from 8.5%. The three-month rate is 8.65% from 8.55%. The six-month rate is 9% from 8.90%. The one-year rate is 9.10% from 9%.

PNB lending rates

According to the PNB website, the bank has hiked its MCLR by 5 basis points with effect from January 1, 2024. The overnight rate is 8.25% from 8.2%. The MCLR based lending rate for one-month is 8.30% from 8.25%. The three month rate is 8.40% from 8.35%. The six month rate is 8.60% from 8.55%. The one year rate is 8.70% from 8.65%.Home loan interest rates may fall by 50 bps or more in 2024; how to save more on your loanYes Bank lending rates
According to the Yes bank website, the new rates are with effect from January 1, 2024. 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%. The one-year rate is 10.50%.

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Bank of India lending rates
According to the Bank of India website, the bank has hiked by 5 bps on overnight tenure and will be effective from January 1, 2024. The overnight rate is 8% from 7.95%. The MCLR based lending rate for one-month is 8.25%. The three-month rate is 40%. The six month rate is 8.60%. The one-year rate is 8.80%.

Bank of Baroda lending rates
Bank of Baroda (BoB) has revised its MCLR with effect from January 12, 2023. The overnight MCLR increased to 8.5% from 8%. The one-month MCLR is unchanged at 8.3%. The three-month MCLR is unchanged at 8.4%. The six-month MCLR is increased by 5 bps to 8.60% from 8.55%. The one-year MCLR is 8.80% from 8.75%.

Latest Canara Bank lending rates
The bank has hiked its marginal cost of lending (MCLR) based lending rates by 5 basis points across various tenors with effect from January 2023. The overnight rate is 8.05% from 8%. The one-month rate is 8.15% from 8.1%. The three-month rate is 8.25% from 8.20%. The six-month rate is increased from 8.55% to 8.60%. The one year rate is 8.80 from 8.75%. The two year rate increased to 9.10%. The three-year rate is 9.20%.
Canara Bank Repo Linked Lending rate (RLLR) with effective from January 12 is 9.25%.

Latest HDFC Bank MCLR
HDFC Bank’s MCLR ranges between 8.80 per cent and 9.30 per cent. The overnight MCLR has been raised by 10 bps from 8.70 per cent from 8.80 per cent. The one-month MCLR of HDFC Bank has increased by 5 bps to 8.80 per cent from 8.75 per cent. The three-month MCLR will be raised to 9 per cent from 8.95 per cent. The six-month MCLR is hiked to 9.20. The one-year MCLR, which is linked to many consumer loans, has been raised by 5 bps to 9.25 per cent from 9.20 per cent. The 3-year MCLR is kept unchanged at 9.30 per cent.

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Latest IDBI Bank lending rates
According to the IDBI Bank website, the latest MCLR for overnight tenor is 8.3%. For one-month tenure the MCLR is 8.45%. The three month MCLR rate for IDBI Bank customers is 8.75%. The six month MCLR is 8.95%. The one year MCLR is 9%. The two year MCLR is 9.55%. The three year MCLR is 9.95%. These rates are effective from January 12, 2024.

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