HDFC Bank Loan Costly: HDFC Bank, the largest private sector bank, has shocked the customers because the bank suddenly increased the MCLR rates to which most of the consumer loans are linked.
HDFC Bank Loan Costly: Today the Reserve Bank of India will announce its monetary policy, but before that, the country’s largest private bank HDFC Bank has made its loan rates expensive. HDFC Bank has increased the Marginal Cost of Lending Rates i.e. MCLR yesterday, after which the bank’s loans like home loan, car loan, personal loan have become expensive.
HDFC Bank increased MCLR – most loans will be expensive
HDFC Bank has shocked its customers because the interest rates on most of the consumer loans of this bank have become expensive. Actually, HDFC Bank has increased its Marginal Cost of Lending Rates i.e. MCLR by 10 basis points i.e. 0.10 percent and the EMI of all the loans related to it will increase from today. This news is being given according to the information given on the website of HDFC Bank.
Know by how much HDFC Bank has increased MCLR and where
The bank’s MCLR rate for loans with different tenures has ranged between 8.9 percent to 9.35 percent.
The bank’s one day MCLR i.e. overnight MCLR has increased by 0.10 percent to 8.9 percent.
One month MCLR has increased by 10 basis points to 8.95 percent.
Three-month MCLR has increased by 10 basis points to 9.10 percent.
Six-month MCLR has increased by 10 basis points to 9.30 percent.
Apart from this, one year MCLR related to consumer loan has also been increased by 5 basis points and it has been increased from 9.25 percent to 9.30 percent. The bank’s 2-year MCLR has now increased from 9.30 percent to 9.35 percent and apart from this, the 3-year MCLR has been maintained at 9.30 percent without any change.
(Source- HDFCbank.com)
Since when did loans become expensive?
These new MCLR rates of HDFC Bank have become effective from 7 February 2024 and will be fully applicable to new loan borrowers.
