Several banks altered their lending rates in January 2024. This includes banks such as IDBI, HDFC, PNB, and Bank of India.
Punjab National Bank
PNB has chosen to raise its MCLR by 5 basis points on January 1, 2024. Now, the bank is providing MCLR ranging from 8.25 percent to 8.65 percent on loans lasting from overnight to one year.
ICICI Bank
ICICI Bank has said it will make loans a bit more expensive. They raised the MCLR by 10 basis points on January 1, 2024.
Now, the bank is offering loans with rates from 8.60 percent to 9 percent, for periods from overnight to 1 year.
Yes Bank
Yes Bank has made loans a bit more expensive. They increased the MCLR by 5 basis points starting January 1, 2024.
Now, the bank is offering loans with rates from 8 percent to 8.80 percent, for periods from overnight to 1 year.
Bank of Baroda
Bank of Baroda decided to make loans a bit more expensive. They raised the MCLR rates by 5 basis points on January 12, 2024.
Now, the bank is offering loans with rates from 8.05 percent to 8.75 percent, for periods from overnight to one year.
Canara Bank
Canara Bank decided to make loans a bit more expensive. They raised the MCLR by 5 basis points.
Now, the rates for overnight and three-year loans at the bank have gone up from 8.05 percent to 8.75 percent.
HDFC Bank
HDFC Bank decided to make loans a bit more expensive. They raised the MCLR by 10 basis points.
Now, the bank is offering interest rates ranging from 8.30 percent to 9.30 percent for loans lasting from one month to one year.
Bank of India
Bank of India decided to make loans a bit more expensive. They raised the MCLR by 5 basis points, and this change started from January 1.
Now, the bank is offering interest rates ranging from 8 percent to 8.80 percent for loans lasting from overnight to 1 year.
IDBI Bank
IDBI Bank decided to make loans a bit more expensive. They increased the MCLR on January 12.
Now, the bank’s MCLR is between 8.30 percent and 9 percent for loans lasting from overnight to 1 year.
