Banking Update: Must update for PNB, HDFC and ICICI bank customers, loan rates changed..
Many customers take bank loans. Many banks have revised interest rates in January and February. If you are also planning to take a loan then first see where you are getting a cheap loan. Both private and government banks are included in this list.
Let us check which bank is giving loans at what rate-
Bank of Baroda
Bank of Baroda (BoB) has amended the MCLR of the bank on 12 February 2024. The MCLR rate of the bank for the overnight period is 8.05 percent. Apart from this, the MCLR of one month is 8.30 percent. The MCLR rate for 3 months is 8.40 percent. MCLR rate for 6 months is 8.60 percent. One year MCLR rate is 8.80 percent.
ICICI Bank
According to the website of ICICI Bank, currently, the overnight MCLR rate is 8.40%. The three-month, and six-month MCLR rates in ICICI Bank are 8.45 percent and 8.60 percent respectively. The one-year MCLR rate has been revised to 8.65 percent.
Punjab National Bank
According to PNB's website, the MCLR rates of the bank for the overnight period have increased from 7.90 percent to 7.90 percent. One month MCLR rate has increased from 7.90 percent to 8 percent.
Yes Bank
According to the Yes Bank website, MCLR rates have increased. The new rates are effective from January 1, 2024. The overnight period rate is 9.2%. MCLR rate for one month is 9.45%. MCLR rate for three months is 10%. The six-month rate is 10.25% and the one-year rate is 10.50%.
Bank of India
According to the website of the Bank of India, the bank has increased the MCLR rates for overnight periods and one-month periods. The bank has increased the rate by 10 bps and it is effective from February 1, 2024. The three-month rate is 8.40%. At the same time, the six-month rate is 8.60% and the one-year rate is 8.80%.
HDFC Bank
HDFC Bank has increased the loan interest rates. The bank has increased the MCLR rates. The new rates of the bank have come into effect from February 8. The bank has increased the rates of some selected tenure loans by 10 bps. The MCLR of the bank has come between 8.90 percent to 9.35 percent. The bank has increased the overnight MCLR rate by 10 basis points, after which its rate has increased from 8.80 percent to 8.90 percent.
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