Latest Loan Interest Rates 2023: Check Rates Of Leading Banks Here

As you know, changes in MCLR and RLLR have a direct impact on the loan rates. As a result, these adjustments alter the Equated Monthly Installments (EMIs) of borrowers.

Written By Zee Media Bureau|Last Updated: Dec 16, 2023, 05:48 PM IST|Source: Bureau

Latest Loan Interest Rates 2023: Check Rates Of Leading Banks Here

File Photo

New Delhi: In the last month of the ongoing year i.e. 2023, several prominent banks in India have changed their Marginal Cost Lending Rate (MCLR) and Repo-Linked Lending Rate (RLLR). As you know, changes in MCLR and RLLR have a direct impact on the loan rates.

As a result, these adjustments alter the Equated Monthly Installments (EMIs) of borrowers. Here we have curated a list of the latest interest rates of prominent banks. Read on further to find out. (Also Read: SGB Scheme To Open On December 18: Here's A-Z About It)

Canara Bank Latest Loan Interest Rates 2023

Canara Bank announced changes in its MCLR rates effective December 12, 2023. The overnight rates have decreased to 8 percent, while one-month loan rates stand at 8.1 percent, three-month rates at 8.2 percent, and six-month rates at 8.55 percent. (Also Read: Who Is Lalit Khaitan? Read Tale Of 80-Year-Old India's Newest Billionaire)

The one-year loan rate is now 8.75 percent, two-year at 9.05 percent, and three-year at 9.15 percent. Canara Bank's Repo-Linked Lending Rate (RLLR) has also been reduced to 9.25 percent.

IDBI Bank Latest Loan Interest Rates 2023

IDBI Bank has revised its MCLR rates from December 12, 2023. The overnight loan rate is 8.3 percent, with one-month and three-month rates at 8.45 percent and 8.75 percent, respectively. The six-month MCLR is 8.95 percent, one year at 9 percent, two years at 9.55 percent, and three years at 9.95 percent.

Union Bank Of India Latest Loan Interest Rates 2023

Union Bank of India has introduced new MCLR rates, including an overnight rate of 7.9 percent, one-month MCLR at 7.95 percent, and three-month MCLR at 8.35 percent. The six-month MCLR is fixed at 8.6 percent, one year at 8.8 percent, and two to three years at 8.9 percent and 9.05 percent, respectively.

ICICI Bank Latest Loan Interest Rates 2023

ICICI Bank adjusted its MCLR rates starting December 1, 2023. The overnight rate is 8.5 percent, with one-month, three-month, six-month, and one-year rates at 8.5 percent, 8.55 percent, 8.9 percent, and 9 percent, respectively.

Punjab National Bank (PNB) Latest Loan Interest Rates 2023

PNB implemented changes in its MCLR rates from December 1, 2023. The overnight MCLR is now at 8 percent, with one-month, three-month, six-month, one-year, and three-year rates at 8.25 percent, 8.35 percent, 8.55 percent, 8.65 percent, and 9.95 percent, respectively.