The country’s largest public sector bank, State Bank of India, has reduced some of its MCLR by 5 basis points (bps). This change is effective from August 15, 2025. Now, SBI’s MCLR ranges between 7.9% and 8.85%, compared to the earlier 7.95% to 8.9%.
| Tenure | Previous MCLR (%) | Revised MCLR (%) |
|---|---|---|
| Overnight | 7.95 | 7.90 |
| 1 Month | 7.95 | 7.90 |
| 3 Months | 8.35 | 8.30 |
| 6 Months | 8.70 | 8.65 |
| 1 Year | 8.80 | 8.75 |
| 2 Years | 8.85 | 8.80 |
| 3 Years | 8.90 | 8.85 |
Bank of Baroda revised its MCLR effective from August 12, 2025. The new rates for different tenures are as follows:
| Sr. No. | MCLR Benchmark | Effective MCLR (%) from 12.08.2025 |
|---|---|---|
| 1 | Overnight MCLR | 7.95 |
| 2 | 1 Month | 7.95 |
| 3 | 3 Months | 8.35 |
| 4 | 6 Months | 8.65 |
| 5 | 1 Year MCLR | 8.80 |
The bank has reduced its overnight and one-month MCLR by up to 15 basis points, while other tenures have seen a cut of 5–10 basis points.
India’s largest private sector bank, HDFC Bank, has also revised its MCLR. The new lending rates range between 8.55% and 8.75%, effective from August 7, 2025. This revision was made after the RBI’s August meeting.
Punjab National Bank has reduced its MCLR by 5 basis points, effective from August 1, 2025—even before the RBI meeting. The new rates are as follows:
| Tenure | Previous MCLR (%) | Revised MCLR (%) |
|---|---|---|
| Overnight | 8.20 | 8.15 |
| 1 Month | 8.35 | 8.30 |
| 3 Months | 8.55 | 8.50 |
| 6 Months | 8.75 | 8.70 |
| 1 Year | 8.90 | 8.85 |
| 3 Years | 9.20 | 9.15 |