HDFC Bank hikes MCLR by 20-25 bps across loan tenures

HDFC Bank hikes MCLR by 20-25 bps across loan tenures

The interest rates on loans given by the bank will now be in the range of 8.50-9.05%

FPJ Web DeskUpdated: Monday, January 09, 2023, 12:31 PM IST
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HDFC Bank hikes MCLR by 20-25 bps across loan tenures | Image credit: Wikipedia (Representative)

HDFC Bank has raised its marginal cost of funds-based lending rates by 20-25 basis points across loan tenures, on Saturday, the lender said on its website.

The interest rates on loans given by the bank will now be in the range of 8.50-9.05%.

The private bank increased the MCLR by 5–10 bps across tenures in December.

Banks must assess their lending rates regularly in accordance with Reserve Bank of India regulations, which base them on the marginal cost of capital.

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