Bank of Baroda, Canara Bank revise loan rates: List of banks that have revised loan interest rates in February 2024

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Many banks have revised their loan interest rates in February 2024. Here is a list of banks that have revised their loan interest rates this month.

Bank of Baroda lending rates

Bank of Baroda (BoB) has revised its MCLR with effect from February 12, 2023. The bank has not changed the previous rate. The overnight MCLR increased to 8.05%. The one-month MCLR is unchanged at 8.3%. The three-month MCLR is unchanged at 8.4%. The six-month MCLR is 8.60%. The one-year MCLR is 8.80%. Bank of Baroda BPLR for all the existing accounts is 13.70% per annum effective from April 12, 2023.
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Sr. No. MCLR Benchmark MCLR in (%)
1 Overnight MCLR 8.05
2 1 Month MCLR 8.3
3 3 Month MCLR 8.4
4 6 Month MCLR 8.6
5 1 Year MCLR 8.8

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 February 12, 2023. The overnight rate is 8.10% from 8.05%. The one-month rate is 8.20% from 8.15%. The three-month rate is 8.30% from 8.25%. The six-month rate is increased from 8.60% to 8.65%. The one-year rate is 8.85 from 8.80%. The two year rate increased to 9.15%. The three-year rate is 9.25%. Canara Bank Repo Linked Lending rate (RLLR) with effective from February 12 is 9.25%.ICICI Bank lending rates
According to the ICICI Bank website, the overnight, one-month MCLR rate is revised to 8.40 percent. The three-months, six months MCLRs at ICICI Bank is at 8.45 percent, and 8.60 percent, respectively. The one-year MCLR is revised to 8.65 percent.

Punjab National Bank
According to the PNB Bank website, the overnight is increased to 7.90 percent, one-month MCLR rate has been increased to 8 percent from 7.90 percent. The three-months, six months MCLRs at ICICI Bank have been increased to 8.10 percent, and 8.30 percent, respectively. The one-year MCLR is hiked to 8.40 percent and 8.70 percent for three years.

Yes 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%.
Bank of India lending rates

Bank of India lending rates
According to the Bank of India website, the bank has hiked by to 10 bps on overnight tenure and one month tenure and it will be effective from February 1, 2024. The three-month rate is 8.40%. The six month rate is 8.60%. The one-year rate is 8.80%.