HDFC Bank Loan Rates: If you also have an account in this bank, then a big change has happened from today. The bank has increased the MCLR rates for all periods.
HDFC Bank Hiked MCLR Rates: There is important news for the customers having an account in HDFC Bank of the private sector. If you also have an account in this bank, then a big change has happened from today. The bank has increased the MCLR rates for all periods. There has been an increase of 10 basis points in the MCLR rates for all loan borrowers. The new rates have come into effect from today i.e. from 7 September.
All types of loans have become expensive
After the increase in MCLR rates, both new and existing customers will get expensive loans. This includes home loans, auto loans and all other types of loans.
Check New Rates
According to the HDFC Bank website, the one-year MCL rates have increased, after which the new rates have become 8.2 percent. At the same time, if we talk about overnight rates, it has now increased to 7.9 percent.
Check one-month-three-month rates The
bank said that for a period of one month, three months and six months, the MCLR rates will be 7.90 per cent, 7.95 per cent and 8.05 per cent respectively.
Last month also increased
Apart from this, last month also the bank had increased the rates of MCLR. The bank had last increased the MCLR rates by 5-10 basis points.
What is MCLR Rates?
Let us tell you that at present, all floating rate loans are linked to MCLR or external benchmark lending rate. MCLR was launched in April 2016. According to the new guidelines of RBI, now commercial banks give loans on the basis of Marginal Cost of Funds Based Lending Rate (MCLR) instead of base rate.
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