HDFC Bank has increased the benchmark marginal cost of funds-based lending rates (MCLR) by up to 5 basis points on select tenures. The rates are effective from November 7, 2023.
HDFC Bank has increased benchmark marginal cost of funds-based lending rates (MCLR) by 5 to 15 basis points across tenures ranging from overnight to six months. The one-year MCLR is unchanged at 9.05%, while two-year and three-year rates remain at 9.10% and 9.20%.
HDFC Bank hikes lending rates across tenures: A hike in the MCLR rate implies an increase in loan interests for new and existing borrowers, including equated monthly instalments (EMIs) for home loans