Mumbai: Leading lender HDFC Bank on Monday announced revisions to its MCLR (marginal cost of lending rates) rates which is likely to reduce interest rates on an array of banking services.
HDFC bank announced revision on MCLR based rates by 5 basis points or 0.05 percent (1 bps is one-hundredth of a percentage point).
Effectively, this brings HDFC bank's MCLR rates in a range of 8.55 to 8.75 percent.
The bank published the following table on its website, explaining the revised MCLR rates as per tenor.
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