ICICI MCLR Rate
ICICI MCLR range from 8.20% - 8.75% for different tenures. MCLR is the minimum interest rate below which a bank cannot charge interest rate on a specific loan. These MCLR rates determine the interest rates for different loans.
MCLR Rate of Top Banks Today
The Marginal Cost of the Fund-Based Lending Rate (MCLR) is an internal reference rate fixed by the Reserve Bank of India (RBI) for banks. It helps banks to decide the minimum rate of interest on different types of loans. Banks are not permitted to lend below the MCLR, or they will have to face strict regulatory action.
Following are the current ICICI MCLR Rate and MCLR rates of other top banks in India:
| Bank Name | Overnight | 1 Month | 3 Months | 6 Months | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| ICICI Bank | 8.20% | 8.25% | 8.40% | 8.70% | 8.75% | NA | NA |
| Canara Bank | 8.25% | 8.35% | 8.45% | 8.80% | 9.00% | 9.30% | 9.40 |
| Axis Bank | 9.15% | 9.15% | 9.25% | 9.30% | 9.35% | 9.45% | 9.50% |
| Yes Bank | 9.10% | 9.45% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 9.05% | 9.10% | 9.20% | 9.35% | 9.40% | 9.40% | 9.40% |
| SBI | 8.20% | 8.45% | 8.50% | 8.85% | 8.95% | 9.05% | 9.10% |
| PNB | 8.30% | 8.35% | 8.55% | 8.75% | 8.90% | NA | 9.20% |
| PSB | 8.20% | 8.45% | 8.55% | 8.85% | 9.10% | NA | NA |
| Citibank | 6.65% | 6.90% | 6.95% | 7.00% | 6.95% | NA | NA |
| Bank of Baroda | 8.15% | 8.35% | 8.50% | 8.75% | 8.95% | NA | NA |
| IndusInd Bank | 10.20% | 10.25% | 10.40% | 10.55% | 10.55% | 10.55% | 10.55% |
| IDFC FIRST Bank | 10.20% | 10.20% | 10.40% | 10.60% | 10.70% | NA | NA |
| Bank of India | 8.15% | 8.40% | 8.55% | 8.75% | 8.95% | NA | 9.10% |
| Central Bank of India | 8.10% | 8.15% | 8.50% | 8.70% | 8.85% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.40% | 8.55% | 8.85% | 9.10% | 9.15% | 9.70% | 10.10% |
| Indian Overseas Bank | 8.20% | 8.45% | 8.60% | 8.85% | 8.95% | 9.00% | 9.15% |
| UCO Bank | 8.20% | 8.35% | 8.50% | 8.80% | 8.95% | NA | NA |
| Kotak Bank | 8.75% | 9.00% | 9.15% | 9.40% | 9.55% | 9.55% | 9.65% |
| HSBC Bank | 8.30% | 8.45% | 8.60% | 8.70% | 8.75% | NA | NA |
MCLR Rate of ICICI Bank
ICICI Bank MCLR ranges from 8.20% - 8.75% for different tenures with effect from 22 May 2025. These rates will be applicable till the next review by the bank. ICICI Bank is India's second-largest private sector bank that offers a wide variety of lending and banking products and services.
Like all other banks in India, ICICI Bank also revised its MCLR in May, which makes lending products cheaper for its customers. ICICI MCLR is the minimum interest rate below which the bank cannot charge for a specific loan product.
ICICI Bank revises its MCLR monthly on the 22nd. Below are the current MCLR of ICICI Bank with effect from 22.05.2025:
- Overnight: 8.20%
- 1 Month: 8.25%
- 3 Months: 8.40%
- 6 Months: 8.70%
- 1 Year: 8.75%
You can also check ICICI Bank Loan Against Property Online.
ICICI Bank MCLR Rate Trend
Below is the ICICI Bank MCLR rate trend in the year 2022 - 2025:
| Last MCLR Updated Date | Tenure | MCLR |
|---|---|---|
| 22.05.2025 | Overnight | 8.20% |
| 1 Month | 8.25% | |
| 3 Months | 8.40% | |
| 6 Months | 8.70% | |
| 1 Year | 8.75% | |
| 22.08.2024 | Overnight | 8.45% |
| 1 Month | 8.50% | |
| 3 Months | 8.65% | |
| 6 Months | 9.00% | |
| 1 Year | 9.10% | |
| 22.07.2024 | Overnight | 8.60% |
| 1 Month | 8.60% | |
| 3 Months | 8.65% | |
| 6 Months | 9.00% | |
| 1 Year | 9.10% | |
| 22.05.2024 | Overnight | 8.60% |
| 1 Month | 8.60% | |
| 3 Months | 8.65% | |
| 6 Months | 9.00% | |
| 1 Year | 9.10% | |
| 01.05.2024 | Overnight | 9.00% |
| 1 Month | 9.00% | |
| 3 Months | 9.10% | |
| 6 Months | 9.15% | |
| 1 Year | 9.20% | |
| 01.03.2024 | Overnight | 8.60% |
| 1 Month | 8.60% | |
| 3 Months | 8.65% | |
| 6 Months | 9.00% | |
| 1 Year | 9.10% | |
| 01.01.2024 | Overnight | 8.60% |
| 1 Month | 8.60% | |
| 3 Months | 8.65% | |
| 6 Months | 9.00% | |
| 1 Year | 9.10% | |
| 01.07.2023 | Overnight | 8.35% |
| 1 Month | 8.35% | |
| 3 Months | 8.40% | |
| 6 Months | 8.75% | |
| 1 Year | 8.85% | |
| 01.05.2023 | Overnight | 9.00% |
| 1 Month | 9.00% | |
| 3 Months | 9.10% | |
| 6 Months | 9.15% | |
| 1 Year | 9.20% | |
| 01.04.2023 | Overnight | 9.00% |
| 1 Month | 9.00% | |
| 3 Months | 9.10% | |
| 6 Months | 9.15% | |
| 1 Year | 9.20% | |
| 01.01.2023 | Overnight | 8.40% |
| 1 Month | 8.40% | |
| 3 Months | 8.45% | |
| 6 Months | 8.60% | |
| 1 Year | 8.65% | |
| 01.12.2022 | Overnight | 8.15% |
| 1 Month | 8.15% | |
| 3 Months | 8.20% | |
| 6 Months | 8.35% | |
| 1 Year | 8.40% | |
| 01.11.2022 | Overnight | 8.05% |
| 1 Month | 8.05% | |
| 3 Months | 8.10% | |
| 6 Months | 8.25% | |
| 1 Year | 8.30% | |
| 01.10.2022 | Overnight | 7.85% |
| 1 Month | 7.85% | |
| 3 Months | 7.90% | |
| 6 Months | 8.05% | |
| 1 Year | 8.10% | |
| 01.09.2022 | Overnight | 7.75% |
| 1 Month | 7.75% | |
| 3 Months | 7.80% | |
| 6 Months | 7.95% | |
| 1 Year | 8% | |
| 01.08.2022 | Overnight | 7.65% |
| 1 Month | 7.65% | |
| 3 Months | 7.70% | |
| 6 Months | 7.85% | |
| 1 Year | 7.90% | |
| 01.07.2022 | Overnight | 7.50% |
| 1 Month | 7.50% | |
| 3 Months | 7.55% | |
| 6 Months | 7.70% | |
| 1 Year | 7.75% | |
| 01.06.2022 | Overnight | 7.30% |
| 1 Month | 7.30% | |
| 3 Months | 7.35% | |
| 6 Months | 7.50% | |
| 1 Year | 7.55% |
ICICI Home Loan Interest Rate & MCLR
The current MCLR Rate ICICI Bank with effect from 22nd May, 2025 are mentioned below:
| Tenure | ICICI Bank MCLR Rate |
|---|---|
| Overnight | 8.20% |
| 1 Month | 8.25% |
| 3 Months | 8.40% |
| 6 Months | 8.70% |
| 1 Year | 8.75% |
The above MCLR ICICI Bank is not applicable anymore as the bank charges interest rates based on the Current Repo Rate now, which is 6.00%:
ICICI Bank Home Loan Interest Rates 2025
| Credit Score | Salaried | Self Employed |
|---|---|---|
| >=800 | 9.00% | 9.00% |
| 750-800 | 9.00% | 9.10% |
ICICI 1 Year MCLR Rate
ICICI Bank MCLR Rate today is 8.75% for 1-year tenure with effect from 22 May 2025. This rate is valid till the next review, i.e. 22nd September 2025. The 1-year MCLR rate of ICICI is updated every month on the 1st. Even a small change in the MCLR may have a significant impact on your ICICI Home Loan linked to MCLR or other lending products offered by the bank.
Therefore, you must check the updated MCLR rates of the bank every month. A fluctuation in MCLR can affect your loan Equated Monthly Instalments (EMIs) as well.
ICICI Bank MCLR Rate History
There has been a significant change in the MCLR rates of ICICI Bank in the last year. Following is the ICICI Bank MCLR rate history for the year 2022-2025:
| Last MCLR Updated Date | MCLR |
|---|---|
| 22.05.2025 | 8.20% - 8.75% |
| 22.08.2024 | 8.45% - 9.10% |
| 22.07.2024 | 8.60% - 9.10% |
| 22.06.2024 | 8.60% - 9.10% |
| 01.05.2024 | 9.00% - 9.20% |
| 01.03.2024 | 8.60% - 9.10% |
| 01.01.2024 | 8.60% - 9.10% |
| 01.07.2023 | 8.35% - 8.85% |
| 01.05.2023 | 9.00% - 9.20% |
| 01.04.2023 | 9.00% - 9.20% |
| 01.01.2023 | 8.40% - 8.65% |
| 01.12.2022 | 8.15% - 8.40% |
| 01.11.2022 | 8.05% - 8.30% |
| 01.10.2022 | 7.85% - 8.10% |
| 01.09.2022 | 7.75% - 8% |
| 01.08.2022 | 7.65% - 7.90% |
| 01.07.2022 | 7.50% - 7.75% |
| 01.06.2022 | 7.30% - 7.55% |
ICICI MCLR Rate FAQs
The MCLR of ICICI Bank varies between 8.20% - 8.75% for different tenures w.e.f. 22.05.2025.
The MCLR rate for ICICI Bank for 6 months is 8.70%.
1 year MCLR means, the bank cannot charge interest rate on loans below the decided 1-year MCLR for a year. Current 1 year MCLR of ICICI Bank is 8.75%.
The current MCLR Rate of ICICI Bank with effect from 22nd May 2025 is mentioned below:
| Tenure | ICICI Bank MCLR Rate |
|---|---|
| Overnight | 8.20% |
| 1 Month | 8.25% |
| 3 Months | 8.40% |
| 6 Months | 8.70% |
| 1 Year | 8.75% |
The Base Rate is based on the average cost of funds, whereas MCLR is based on the marginal cost of funds. Base Rate is calculated by considering the profit margin or minimum rate of return, and MCLR is calculated considering tenure premium.
The RBI Policy Repo Rate is 6.00% effective April 9, 2025.
The MCLR full form in banking is Marginal Cost of Funds Based Lending Rate.
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