HDFC Bank hikes lending rates by up to 5 bps: What this means for borrowers

Quick Summary:

The rate adjustment raises the overnight and one-month tenures by 5 basis points each, with a similar 5 bps increase for the three-year tenure.

HDFC Bank has adjusted its marginal cost of funds-based lending rates (MCLR) for two short-term tenures by up to 5 basis points (bps).

Borrowers will see revisions in their rate if the one-year MCLR is updated—which has not happened in this case,” Shetty explains.

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Category: BusinessFinance

Markets: India

Topics: HDFC Bank home loan rates Overnight MCLR rate MCLR November 2024 Three-year MCLR rate HDFC Bank interest rates Adhil Shetty BankBazaar One-month MCLR rate Repo rate loans HDFC Bank MCLR rates HDFC Bank lending rates HDFC Bank

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News Sentiment: Neutral

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Article Type: News Report

Published On: 2024-11-08 @ 16:00:31 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 483 words

Reading Time: 3 minutes read

Sentences: 24 lines

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Copyright Owner: © Business Standard

News ID: 23469391

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