Bank loan interest rates in April 2024 compared: SBI, HDFC Bank, ICICI Bank, IDBI Bank, Yes Bank, PNB, Bank of Baroda
Here is a look at the latest MCLR of the top 8 banks in April 2024.
Also read: Home loan interest rates April 2024: Banks offering cheapest interest rates for home loans above Rs 75 lakh
Banks loan interest rates in April 2024
ICICI Bank lending rates
According to the ICICI Bank website, the overnight rate and one month rate is at 8.60%. The three-month rate is 8.65%. The six-month rate is 9%. The one-year rate is 9.10%. The rates are effective from March 22, 2024.
TenuresI-MCLROvernight8.60%One Months8.60%Three Months8.65%Six Months9.00%One Year9.10%
HDFC Bank lending rates
The overnight MCLR is 8.95%. The one-month MCLR of HDFC Bank is now at 9%. The three-month MCLR is 9.15%. The six-month MCLR is 9.30%. The one-year MCLR, which is linked to many consumer loans, has been raised 9.30%. The 2 and 3 year MCLR is at 9.35%. The rates are effective from April 8, 2024.
MCLROvernight8.95%1 Month9.00%3 Month9.15%6 Month9.30%1 Year9.30%2 Year9.35%3 Year9.35%
SBI lending rates
SBI MCLR overnight rate stands at 8%. The one-month MCLR is at 8.2% at SBI. Three-month MCLR stands at 8.2% as well. The six-month MCLR is at 8.55%, while the one-year MCLR stands at 8.65%. Most consumer loans are usually linked to a one-year MCLR. The two-year MCLR is at 8.75%. The three-year MCLR is at 8.85%. The rates are effective from April 15, 2024.
