MCLR at every bank, and what your loan resets to
For loans priced on MCLR: most home loans taken between April 2016 and September 2019, and many business loans. Find your bank's rate, see what your next reset will cost, and how MCLR has followed the RBI.
- Every rate from the bank's own page, with a link to it
- No referral fees, no ads, no “apply now”
- Checked 15 Nov 2026
- 15 banks read so far
Rates are rising again. The RBI raised the repo rate by 0.25% to 5.50% on 7 Oct 2026, its first increase since Feb 2023. SBI moved its EBLR up 0.25% and its 1-year MCLR up 0.15% from 15 Nov. If your loan is on MCLR, the change reaches you only at your next reset date.
What will my rate reset to?
Your rate is your bank's MCLR for your reset period plus a fixed spread. It changes only on your reset date, usually once a year.
Or move to the repo-linked rate?
Repo-linked rates move within three months of every RBI change, up or down. A rate on MCLR moves only at each reset. What you type stays in your browser.
MCLR at 11 banks
Pick your reset period. Each figure is from the bank's own page. Banks review MCLR every month, so we show when the next review is expected. We also read loan rates from Akhand Anand Bank, Axis, Kotak, Maharashtra, but their pages publish no MCLR we can read.
| Bank | Overnight | 1 month | 3 months | 6 months | 1 year | 2 years | 3 years | Last change | Effective from | Next review | Repo-linked rate | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canara BankYour bank | 7.95% | 8.05% | 8.30% | 8.65% | 8.80% | 9.05% | 9.10% | None seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yet | 12 Oct 2026 | 12 Dec 2026 | 8.25% RLLR | Bank's page ↗ |
| Bank of BarodaYour bank | 7.85% | 8.00% | 8.50% | 8.70% | 8.85% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | 12 Nov 2026 | 12 Dec 2026 | 8.15% RLLR | Bank's page ↗ |
| Central Bank of IndiaYour bank | 7.65% | 7.70% | 8.50% | 8.70% | 8.85% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | 10 Nov 2026 | 10 Dec 2026 | 8.50% RLLR | Bank's page ↗ |
| State Bank of IndiaYour bank | 7.85% | 7.85% | 8.40% | 8.75% | 8.85% | 8.90% | 8.95% | ▼ 0.05 on 15 Dec▼ 0.05 on 15 Dec▲ 0.15 on 15 Nov▲ 0.15 on 15 Nov▲ 0.15 on 15 Nov▲ 0.15 on 15 Nov▲ 0.15 on 15 Nov | 15 Nov 2026 | 15 Dec 2026 | 8.15% EBLR | Bank's page ↗ |
| Union Bank of IndiaYour bank | 7.90% | 8.15% | 8.45% | 8.75% | 8.85% | 9.00% | 9.05% | None seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yet | 21 Oct 2026 | 21 Nov 2026 | 8.25% EBLR | Bank's page ↗ |
| Indian Overseas BankYour bank | 7.95% | 8.25% | 8.50% | 8.75% | 8.90% | 8.90% | 8.95% | None seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yetNone seen yet | 15 Oct 2026 | Due today | 8.35% RLLR | Bank's page ↗ |
| Punjab National BankYour bank | 8.10% | 8.35% | 8.60% | 8.75% | 8.90% | – | 9.20% | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–None seen yet | 1 Nov 2026 | 1 Dec 2026 | 8.35% RLLR | Bank's page ↗ |
| UCO BankYour bank | 8.00% | 8.30% | 8.55% | 8.80% | 8.90% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | 7 Nov 2026 | 7 Dec 2026 | Not read yet | Bank's page ↗ |
| Indian BankYour bank | 8.00% | 8.30% | 8.60% | 8.85% | 8.95% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | 3 Nov 2026 | 3 Dec 2026 | 8.20% RLLR | Bank's page ↗ |
| Punjab & Sind BankYour bank | 7.90% | 8.30% | 8.60% | 8.95% | 9.10% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | ⚠ Not stated | Not stated | Not read yet | Bank's page ↗ |
| CSB BankYour bank | 8.40% | 8.60% | 9.00% | 9.60% | 10.80% | – | – | None seen yetNone seen yetNone seen yetNone seen yetNone seen yet–– | 1 Nov 2026 | 1 Dec 2026 | Not read yet | Bank's page ↗ |
How MCLR has followed the RBI
SBI is the largest MCLR lender and publishes every revision since April 2016, so its history is shown. Other banks' history builds up from our daily reads.
Every SBI MCLR revision as a table
| Effective | ON | 1M | 3M | 6M | 1Y | 2Y | 3Y | 1-year change |
|---|---|---|---|---|---|---|---|---|
| 15 Nov 2026 | 7.85 | 7.85 | 8.40 | 8.75 | 8.85 | 8.90 | 8.95 | ▲ 0.15 |
| 15 Dec 2025 | 7.85 | 7.85 | 8.25 | 8.60 | 8.70 | 8.75 | 8.80 | ▼ 0.05 |
| 15 Aug 2025 | 7.90 | 7.90 | 8.30 | 8.65 | 8.75 | 8.80 | 8.85 | ▼ 0.05 |
| 15 Jul 2025 | 7.95 | 7.95 | 8.35 | 8.70 | 8.80 | 8.85 | 8.90 | ▼ 0.20 |
| 15 Nov 2024 | 8.20 | 8.20 | 8.55 | 8.90 | 9.00 | 9.05 | 9.10 | ▲ 0.05 |
| 15 Oct 2024 | 8.20 | 8.20 | 8.50 | 8.85 | 8.95 | 9.05 | 9.10 | ● no change |
| 15 Aug 2024 | 8.20 | 8.45 | 8.50 | 8.85 | 8.95 | 9.05 | 9.10 | ▲ 0.10 |
| 15 Jul 2024 | 8.10 | 8.35 | 8.40 | 8.75 | 8.85 | 8.95 | 9.00 | ▲ 0.10 |
| 15 Jun 2024 | 8.10 | 8.30 | 8.30 | 8.65 | 8.75 | 8.85 | 8.95 | ▲ 0.10 |
| 15 Dec 2023 | 8.00 | 8.20 | 8.20 | 8.55 | 8.65 | 8.75 | 8.85 | ▲ 0.10 |
| 15 Jul 2023 | 8.00 | 8.15 | 8.15 | 8.45 | 8.55 | 8.65 | 8.75 | ▲ 0.05 |
| 15 Feb 2023 | 7.95 | 8.10 | 8.10 | 8.40 | 8.50 | 8.60 | 8.70 | ▲ 0.10 |
| 15 Jan 2023 | 7.85 | 8.00 | 8.00 | 8.30 | 8.40 | 8.50 | 8.60 | ▲ 0.10 |
| 15 Dec 2022 | 7.85 | 8.00 | 8.00 | 8.30 | 8.30 | 8.50 | 8.60 | ▲ 0.25 |
| 15 Nov 2022 | 7.60 | 7.75 | 7.75 | 8.05 | 8.05 | 8.25 | 8.35 | ▲ 0.10 |
| 15 Oct 2022 | 7.60 | 7.60 | 7.60 | 7.90 | 7.95 | 8.15 | 8.25 | ▲ 0.25 |
| 15 Aug 2022 | 7.35 | 7.35 | 7.35 | 7.65 | 7.70 | 7.90 | 8.00 | ▲ 0.20 |
| 15 Jul 2022 | 7.15 | 7.15 | 7.15 | 7.45 | 7.50 | 7.70 | 7.80 | ▲ 0.10 |
| 15 Jun 2022 | 7.05 | 7.05 | 7.05 | 7.35 | 7.40 | 7.60 | 7.70 | ▲ 0.20 |
| 15 May 2022 | 6.85 | 6.85 | 6.85 | 7.15 | 7.20 | 7.40 | 7.50 | ▲ 0.10 |
| 15 Apr 2022 | 6.75 | 6.75 | 6.75 | 7.05 | 7.10 | 7.30 | 7.40 | ▲ 0.10 |
| 10 Jul 2020 | 6.65 | 6.65 | 6.65 | 6.95 | 7.00 | 7.20 | 7.30 | ● no change |
| 10 Jun 2020 | 6.70 | 6.70 | 6.75 | 6.95 | 7.00 | 7.20 | 7.30 | ▼ 0.25 |
| 10 May 2020 | 6.95 | 6.95 | 7.00 | 7.20 | 7.25 | 7.45 | 7.55 | ▼ 0.15 |
| 10 Apr 2020 | 7.10 | 7.10 | 7.15 | 7.35 | 7.40 | 7.60 | 7.70 | ▼ 0.35 |
| 10 Mar 2020 | 7.45 | 7.45 | 7.50 | 7.70 | 7.75 | 7.95 | 8.05 | ▼ 0.10 |
| 10 Feb 2020 | 7.60 | 7.60 | 7.65 | 7.80 | 7.85 | 8.05 | 8.15 | ▼ 0.05 |
| 10 Dec 2019 | 7.65 | 7.65 | 7.70 | 7.85 | 7.90 | 8.10 | 8.20 | ▼ 0.10 |
| 10 Nov 2019 | 7.65 | 7.65 | 7.70 | 7.85 | 8.00 | 8.10 | 8.20 | ▼ 0.05 |
| 10 Oct 2019 | 7.70 | 7.70 | 7.75 | 7.90 | 8.05 | 8.15 | 8.25 | ▼ 0.10 |
| 10 Sep 2019 | 7.80 | 7.80 | 7.85 | 8.00 | 8.15 | 8.25 | 8.35 | ▼ 0.10 |
| 10 Aug 2019 | 7.90 | 7.90 | 7.95 | 8.10 | 8.25 | 8.35 | 8.45 | ▼ 0.15 |
| 10 Jul 2019 | 8.05 | 8.05 | 8.10 | 8.25 | 8.40 | 8.50 | 8.60 | ▼ 0.05 |
| 10 May 2019 | 8.10 | 8.10 | 8.15 | 8.30 | 8.45 | 8.55 | 8.65 | ▼ 0.05 |
| 10 Apr 2019 | 8.15 | 8.15 | 8.20 | 8.35 | 8.50 | 8.60 | 8.70 | ▼ 0.05 |
| 10 Dec 2018 | 8.20 | 8.20 | 8.25 | 8.40 | 8.55 | 8.65 | 8.75 | ▲ 0.05 |
| 1 Oct 2018 | 8.15 | 8.15 | 8.20 | 8.35 | 8.50 | 8.60 | 8.70 | ▲ 0.05 |
| 1 Sep 2018 | 8.10 | 8.10 | 8.15 | 8.30 | 8.45 | 8.55 | 8.65 | ▲ 0.20 |
| 1 Jun 2018 | 7.90 | 7.90 | 7.95 | 8.10 | 8.25 | 8.35 | 8.45 | ▲ 0.10 |
| 1 Mar 2018 | 7.80 | 7.80 | 7.85 | 8.00 | 8.15 | 8.25 | 8.35 | ▲ 0.20 |
| 1 Nov 2017 | 7.70 | 7.80 | 7.85 | 7.90 | 7.95 | 8.05 | 8.10 | ▼ 0.05 |
| 1 Jan 2017 | 7.75 | 7.85 | 7.90 | 7.95 | 8.00 | 8.10 | 8.15 | ▼ 0.90 |
| 1 Nov 2016 | 8.65 | 8.75 | 8.80 | 8.85 | 8.90 | 9.00 | 9.05 | ▼ 0.15 |
| 1 Oct 2016 | 8.80 | 8.90 | 8.95 | 9.00 | 9.05 | 9.15 | 9.20 | ▼ 0.05 |
| 1 Aug 2016 | 8.85 | 8.95 | 9.00 | 9.05 | 9.10 | 9.20 | 9.25 | ▼ 0.05 |
| 1 May 2016 | 8.90 | 9.00 | 9.05 | 9.10 | 9.15 | 9.25 | 9.30 | ▼ 0.05 |
| 1 Apr 2016 | 8.95 | 9.05 | 9.10 | 9.15 | 9.20 | 9.30 | 9.35 |
Is my loan on MCLR?
It depends mostly on when the loan was first paid out.
Your loan is probably on MCLR, unless you've already switched. Look on your sanction letter or a recent statement for wording like "1Y MCLR + 0.35%". The number after the plus sign is your spread, which the calculator above needs.
Before you ask your bank to switch
Get these answers in writing. Copy the list into an email or take it to your branch.
- What rate will I pay on the repo-linked loan, written as benchmark plus spread?
- What is the one-time conversion fee, including GST?
- How often will the new rate reset? (RBI rules require at least once every three months.)
- When the rate changes, will my EMI change or my tenure?
- Does anything else in my loan agreement change?
Stay on MCLR or move to the repo-linked rate?
Neither is always cheaper. It depends on where rates are heading, your spread on each, the fee and how long the loan has left. The calculator above does the arithmetic for your loan.
▼ Moving tends to pay off when
- Rates are falling. In 2025 the RBI cut by 1.25%. SBI's EBLR fell 1.25%; its 1-year MCLR fell 0.30%.
- The repo-linked rate you're quoted is clearly below what you'll pay after your next reset.
- The monthly saving covers the conversion fee within a year or two.
- Many years are left on the loan.
▲ Staying can make sense when
- Rates are rising and your reset is months away. Your rate holds until then.
- MCLR has passed on less of the latest hike: SBI's 1-year MCLR rose 0.00% after the RBI's 0.25%.
- Only a year or two of the loan is left, so a fee is hard to earn back.
- This protection has been temporary. After the 2022–23 hikes ended, SBI's 1-year MCLR kept rising for another 21 months while the repo rate stood still.
What MCLR is, and common questions
What is MCLR?
The marginal cost of funds based lending rate is the lowest rate a bank may lend at for a given reset period. It was the benchmark for new floating-rate loans from April 2016 to September 2019. Since 1 October 2019, new floating-rate retail loans have been linked to an external benchmark, usually the RBI repo rate. A loan on MCLR resets at the end of each period, most often one year, to the MCLR then in force plus its spread.
When will my rate actually change?
Only on your reset date, which your loan agreement sets. For a 1-year MCLR loan that is usually the anniversary of the first payout, or a fixed date the bank uses for all loans. Your rate stays the same between reset dates even if the bank changes its MCLR every month.
Can the bank raise my spread?
The spread is fixed when you borrow. Under RBI rules the bank may raise it only if your credit risk profile worsens, as set out in your loan agreement.
Why does MCLR move less than the repo rate?
MCLR is built from what the bank pays for new money, mostly deposits, plus its operating costs, the cost of the reserves it must hold and a premium for longer periods. Deposit rates take months to reprice, so MCLR follows the repo rate slowly and only partly.
Will my EMI go up, or my tenure?
Many banks keep the EMI the same and lengthen the tenure when rates rise. The calculator shows both. Ask your bank which it does, and whether you can choose.
Where do these numbers come from?
Every current rate is read from the bank's own MCLR page, which we link beside each figure, and re-read every day. History comes from the archives banks publish and from changes our daily read has seen. If a figure looks wrong, use the feedback form below and we'll recheck it.
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