Many customers take bank loan. Many banks have revised interest rates in the months of 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 loan 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 overnight period is 8.05 percent. Apart from this, MCLR for one month is 8.30 percent. The MCLR rate for a period of 3 months is 8.40 percent. MCLR rate for a period of 6 months is 8.60 percent. One year MCLR rate is 8.80 percent.

ICICI Bank

According to the website of ICICI Bank, at present the overnight MCLR rate is 8.40%. The MCLR rate for three months and six months in ICICI Bank is 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 the website of PNB, the MCLR rates of the bank for 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 website of Yes Bank, 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 Bank of India, the bank has increased the MCLR rates for overnight period and one month period. 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 8th February. 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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Two government and one private bank of the country have changed the loan interest rates. These are Punjab National Bank, Bank of India and ICICI Bank. Banks have changed the MCLR for loans of almost all tenures. The new loan rates will be applicable from August 1, 2023. Know how it will affect you?

In fact, the MCLR rate of a bank is that minimum interest rate, below which the bank does not give loans at all. In such a situation, if the bank increases the MCLR or makes any changes in it, then it directly affects the borrowers. Know which bank has increased how much MCLR…

ICICI Bank

ICICI Bank has increased the interest rates on all term loans by 0.05 percent. This includes loans with tenures ranging from one day, one month to one year and above. From now on, the MCLR for overnight and one month loans will be 8.40%. While interest will be charged at the rate of 8.45% for three months, 8.80% for six months and 8.90% for one year.

Punjab National Bank

At present, no change has been made in MCLR by Punjab National Bank. These are 8.10% for overnight, 8.20% for one month, 8.30% for three months, 8.50% for six months, 8.60% for one year and 8.90% for tenure of three years or more.

Bank of India

Bank of India has increased MCLR for some of its loans. According to the bank’s website, the MCLR rate for different periods is as follows.

• Over night 7.95%,
• One month 8.15%,
• 3 months 8.30%,
• 6 months 8.50%,
• one year 8.70%,
• For a period of three years and above, interest rate of 8.90% will be charged.

The post Bank Revised Rate: These Bank has increased the interest rate, your loan will be affected like this first appeared on Rightsofemployees.com.