MCLR or Marginal Cost of Funds based Lending Rate was implemented by RBI on April 1, 2016. It is the new benchmark lending rate for commercial banks which
replaced the base rate system.
TOP BANKS FOR 6 MONTHS
| BANK NAME | MCLR(%) | With Effect From |
| CANARA BANK | 8.55 | 07/02/2019 |
| CENTRAL BANK OF INDIA | 8.55 | 01/02/2019 |
| BANK OF MAHARASHTRA | 8.55 | 07/02/2019 |
| PUNJAB NATIONAL BANK | 8.45 | 01/02/2019 |
| STATE BANK OF INDIA | 8.40 | 10/02/2019 |
TOP BANKS FOR 1 YEAR
| BANK NAME | MCLR(%) | With Effect From |
| BANK OF INDIA# | 8.70 | 10/02/2019 |
| CANARA BANK | 8.70 | 07/02/2019 |
| CENTRAL BANK OF INDIA | 8.65 | 01/02/2019 |
| STATE BANK OF INDIA | 8.55 | 10/02/2019 |
| PUNJAB NATIONAL BANK | 8.55 | 01/02/2019 |
TOP BANKS FOR 2 YEARS
| BANK NAME | MCLR(%) | With Effect From |
| PUNJAB & SIND BANK | 8.90 | 14/02/2019 |
| I O B | 8.90 | 10/01/2019 |
| HDFC BANK | 8.90 | 07/02/2019 |
| UNION BANK OF INDIA | 8.80 | 01/02/2019 |
| STATE BANK OF INDIA | 8.65 | 10/02/2019 |
TOP BANKS FOR 3 YEARS
| BANK NAME | MCLR(%) | With Effect From |
| I O B | 9.00 | 10/01/2019 |
| PUNJAB & SIND BANK | 8.90 | 14/02/2019 |
| UNION BANK OF INDIA | 8.85 | 01/02/2019 |
| STATE BANK OF INDIA | 8.75 | 10/02/2019 |
| PUNJAB NATIONAL BANK | 8.75 | 01/02/2019 |
TOP BANKS FOR 5 YEARS
| BANK NAME | MCLR(%) | With Effect From |
| KARUR VYSYA BANK | 9.65 | 07/12/2018 |
| PUNJAB & SIND BANK | 8.90 | 14/02/2019 |
*Strategic Premium of 0.25%
#Business Strategy spread of 0.30%
