HDFC Bank increases MCLR rates on two tenures, borrowing costs set to rise, Check details

The revision specifically affects the six-month and three-year tenures, with the six-month MCLR rising from 9.40% to 9.45%.

HDFC Bank increases MCLR rates on two tenures, borrowing costs set to rise, Check details
HDFC Bank increases MCLR rates on two tenures, borrowing costs set to rise, Check details

New Delhi: HDFC Bank has raised its marginal cost of funds-based lending rates (MCLR) by up to 5 basis points (bps) for specific periods, starting today. This change brings the bank's MCLR interest rates to a range of 9.10% to 9.50%, potentially affecting borrowing costs for customers.

The revision specifically affects the six-month and three-year tenures, with the six-month MCLR rising from 9.40% to 9.45%.

The one-year MCLR, a critical benchmark for many consumer loans, remains at 9.45%. Meanwhile, the three-year MCLR has increased from 9.45% to 9.50%. Other rates include 9.10% for overnight loans, 9.15% for one-month loans, and 9.30% for three-month loans.

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In terms of home loans, HDFC Bank offers rates benchmarked against the current policy repo rate of 6.50%. Special home loan rates for salaried and self-employed individuals range from 8.75% to 9.65%, while standard home loan rates fall between 9.40% and 9.95%. Check the revised rates below-

Overnight-9.10

One Month-9.15%

Three Months-9.30%

Six Months-9.45%

One Year-9.45%

Two Years-9.45%

Three Years-9.50%

 

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