Lower EMI’s ahead: These 5 banks have reduced lending rates in September 2025
1/5
Latest HDFC Bank lending rates
HDFC Bank’s overnight and one-month MCLR remain at 8.55%, while its three-month MCLR stands at 8.60%. The bank has cut its six-month and one-year MCLR rates by 5 bps each, from 8.70% to 8.65%. The bank has also reduced its two-year MCLR from 8.75% to 8.70%, while the three-year MCLR remains unchanged at 8.75%.
2/5
Bank of Baroda lending rates
The bank has revised its Marginal Cost of Funds-based Lending Rates (MCLR) with effect from September 12, 2025. As per the bank’s website, the overnight MCLR has been reduced by 10 basis points, from 7.95% to 7.85%, while the three-month MCLR has been cut by 15 basis points, from 8.35% to 8.20%. On the other hand, the one-month (7.95%), six-month (8.65%), and one-year (8.80%) MCLR rates remain unchanged.
3/5
Indian Overseas Bank lending rates
Indian Overseas Bank has revised its MCLR with effect from September 15, 2025. The overnight MCLR has been reduced by 5 basis points to 8.00% from 8.05%. The one-year, two-year, and three-year MCLR rates have also been cut by 5 basis points each to 8.85%, 8.85%, and 8.90%, respectively. On the other hand, the one-month (8.30%), three-month (8.45%), and six-month (8.70%) MCLR rates remain unchanged.
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4/5
PNB lending rates
Punjab National Bank (PNB) has reduced marginal cost of lending rates by up to 15 bps on its overnight tenure. The overnight MCLR has been reduced from 8.15% to 8%. The bank has cut its one-month MCLR from 8.30% to 8.25%, while it has reduced the three-month MCLR from 8.50% to 8.45%. The bank’s six-month MCLR has come down from 8.70% to 8.65%, the one-year MCLR from 8.85% to 8.8%, and the three-year MCLR from 9.15% to 9.10%. The new rates are effective from September 1, 2025.
5/5
Bank of India lending rates
Bank of India has reduced MCLR rates across all tenures by 5 to 15 basis points, except for the overnight tenure, which remains unchanged. The new rates are effective from September 1, 2025.
The bank has kept the overnight MCLR unchanged at 7.95%, but it has cut the 1-month MCLR from 8.40% to 8.30%. The lender has also cut the 3-month MCLR from 8.55% to 8.45%. Similarly, Bank of India has reduced the 6-month MCLR from 8.80% to 8.70%. It has revised its 1-year MCLR from 8.90% to 8.85%, while the bank has also slashed its 3-year MCLR from 9.15% to 9.00%.
The bank has kept the overnight MCLR unchanged at 7.95%, but it has cut the 1-month MCLR from 8.40% to 8.30%. The lender has also cut the 3-month MCLR from 8.55% to 8.45%. Similarly, Bank of India has reduced the 6-month MCLR from 8.80% to 8.70%. It has revised its 1-year MCLR from 8.90% to 8.85%, while the bank has also slashed its 3-year MCLR from 9.15% to 9.00%.