HDFC Bank cuts lending rate by 5 bps on this tenure; check details
Latest HDFC Bank lending rates
The 2-year tenure MCLR has been decreased by 5 bps, from 9.45% to 9.40% with effect from March 7, 2025. The one-month MCLR has been kept unchanged at 9.20%, the three-month MCLR is also unchanged at 9.30%. The six-month and one-year MCLRs are unchanged at 9.40% and the two-year MCLR has been cut to 9.40%. The three-year MCLR is unchanged at 9.45%.
Also read: After RBI rate cut, check latest home loan interest rates of top banks for loans above Rs 75 lakh
What is MCLR?
The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. It dictates the lower limit of the interest rate for a loan. This rate limit is set in stone for borrowers unless specified otherwise by the Reserve Bank of India. The Reserve Bank of India (RBI) introduced the MCLR in 2016.
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