HDFC Bank Raises Interest Rates On MCLR By 5 Basis Points

In a big shock to HDFC Bank loan borrowers, the Marginal Cost of Funds-Based Lending Rate (MCLR) on select loans has increased by 5 basis points. As a result, interest rates on personal and vehicle loans will rise, and it will increase to around 9.45%. The interest on one-day loans has climbed to 9.10-9.15%, while loans with a one-month time limit will now have an interest rate of 9.20%.