5 Major Banks Offering Lowest Loan Rates In June 2025: SBI Vs HDFC Bank Vs Canara Bank Vs BoB Vs PNB Compared

Several main banks have revised their Marginal Cost of Funds-based Lending Rates (MCLR) in June 2025. Banks revise their MCLR because of adjustments of their price of budget and the requirement to evolve to the RBI’s financial coverage. 

What is MCLR?

The Reserve Bank of India presented the MCLR method for industrial banks to set lending charges. It is a benchmark price utilized by banks to decide rates of interest on quite a lot of floating-rate loans like house loans, non-public loans and automotive loans. According to RBI laws, banks will have to arrange MCLR which function interior benchmark lending charges. It will have to be revised per month by way of bearing in mind elements like repo price and different borrowing charges. 

Here’s the MCLR price of best banks in June 2025. 

SBI June 2025 Loan Rate

State Bank of India has stored its lending charges unchanged on all tenures. SBI’s in a single day and one-month MCLR stay at 8.20 p.c. The three-month MCLR stands at 8.55 p.c and the six-month tenure stays at 8.90 p.c. The MCLR for one-year tenure is 9 p.c. The MCLR for 2 years tenures is 9.05 p.c and that of 3 years is 9.10 p.c. The tenor-wise MCLR is efficacious from June 15, 2025.

Punjab National Bank June 2025 Loan Rate

Punjab National Bank has stored the charges unchanged. Its in a single day MCLR is 8.25 p.c and one-month MCLR is 8.40 p.c. The three-month MCLR stands at 8.60 p.c and the six-month MCLR stands at 8.80 p.c. The one-year MCLR is 8.95 p.c and the three-year MCLR is 9.25 p.c. The MCLR is efficacious June 1, 2025.

Canara Bank June 2025 Loan Rate

Canara Bank has diminished its lending charges by way of 20 bps. Its in a single day MCLR is decreased to 8 p.c from 8.20 p.c. The one-month MCLR has dropped from 8.25 p.c to 8.05 p.c. The three-month MCLR is now 8.25 p.c and the six-month MCLR has been diminished to 8.60 p.c from 8.80 p.c. The one-year MCLR has been decreased from 8.80 p.c to 9 p.c. The two-year MCLR stands at 8.95 p.c and the 3 years MCLR stands at 9 p.c. The new charges are efficient from June 12, 2025.

HDFC Bank June 2025 Loan Rate

HDFC Bank has decreased its in a single day and one-month MCLR tenures by way of 10 bps to 8.9 p.c from 9 p.c previous. The three-month MCLR has been lower from 9.05 p.c to 8.95 p.c and the six-month MCLR has been decreased from 9.15 p.c to 9.05 p.c. The one-year MCLR charges had been decreased from 9.15 p.c to 9.05 p.c. The two-year MCLR is decreased from 9.20 p.c to 9.10 p.c and the three-year MCLR has been decreased from 9.20 p.c to 9.10 p.c.

Bank of Baroda June 2025 Loan Rate

Bank of Baroda has maintained its in a single day MCLR at 8.15 p.c, whilst it has decreased its one-month MCLR to 8.30 p.c from 8.35 p.c previous. The three-month MCLR is now 8.50% from previous 8.55 p.c and the six-month MCLR is 8.75 p.c from previous 8.80 p.c. The one-year MCLR is decreased to 8.9 p.c from 8.95 p.c. These charges are efficient from June 12, 2025.