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If you are also thinking of taking a loan, then you should know what are the MCLR rates of all the banks. MCLR i.e. Marginal Cost of Lending Rate is the rate that has a direct impact on the interest rate of your loan. No bank can give a loan (Personal Loan) at a rate lower than MCLR. Let us know what is the MCLR rate of the top 5 banks of the country in January 2025.

1- HDFC Bank Loan Rates
According to the HDFC Bank website, overnight MCLR has been reduced by 5 basis points. Now overnight MCLR has become 9.15 percent, which was earlier 9.20 percent. 1-month MCLR is 9.20 percent. 3-month MCLR is 9.30 percent. Apart from these, 6-month and 1-year MCLR has come down by 5 basis points to 9.40 percent. The 2-year MCLR is 9.45%. The 3-year MCLR has been reduced by 5 basis points to 9.45%, which was earlier 9.50%.

2- Bank of Baroda Loan Rates
According to the Bank of Baroda website, the overnight MCLR is 8.15%. The 1-month MCLR is 8.35%. The 3-month MCLR is 8.55%. Apart from these, the 6-month MCLR is 8.80%. The 1-year MCLR is 9%. All these rates are effective from January 12.

3- Canara Bank loan rates
The overnight MCLR of Canara Bank is 8.35%. The 1-month MCLR is 8.45%. The 3-month MCLR is 8.55%. Apart from these, the 6-month MCLR is 8.90%. The 1-year MCLR is 9.10 percent. Apart from this, the 2-year MCLR is 9.35 percent. These rates are applicable from January 12.

4- PNB loan rates
The overnight MCLR in Punjab Bank is 8.35 percent. The 1-month MCLR is 8.45 percent. The 3-month MCLR is 8.65 percent. Apart from these, the 1-year MCLR is 9 percent. The 3-year MCLR is 9.30 percent. These rates have been implemented from January 1 itself.

5- IDBI Bank loan rates
According to IDBI Bank, the overnight MCLR of the bank is 8.45 percent. The 1-month MCLR is 8.60 percent. The 3-month MCLR is 8.90 percent. Apart from these, the 6-month MCLR is also 9.15 percent. 1-year MCLR is 9.20 percent and 2-year MCLR is 9.75 percent. Apart from these, 3-year MCLR is 10.15 percent. These rates are effective from January 12.

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