Science & Environment
HDFC Bank Hikes MCLR Rate by 5 bps On…
HDFC Bank has kept MCLR unchanged for tenures other than three months.
HDFC Bank has changed interest rates on just one tenure, on 3-month MCLR, raising it by 5 basis points, while keeping it unchanged for other tenures.
HDFC Bank, India’s largest private sector bank, has revised its Marginal Cost of Lending Rate (MCLR), with effect from September 7, 2024. The updated MCLR rates now range between 9.10 per cent and 9.45 per cent per annum.
The bank has changed interest rates on just one tenure — 3-month MCLR — while keeping it unchanged for other tenures.
HDFC Bank has raised its 3-month MCLR by 5 basis points from 9.25 per cent to 9.30 per cent.
The overnight MCLR is 9.10 per cent, while the 1-month rate is 9.15 per cent. The 6-month rate remains at 9.40 per cent, and the rates for 1-year, 2-year, and 3-year tenures are unchanged at 9.45 per cent.
