HDFC Bank, one of the largest banks in the country, has informed about the increase in interest rates. If your account is in HDFC Bank in any way or if your loan account is in HDFC Bank, then its effect is going to start on you now.
HDFC Bank has increased the Marginal Cost Based Lending Rate (MCLR) by up to 10 basis points on select tenors. The new rates will be effective from October 7, 2023.
The bank has increased the base rate by 5 bps and the benchmark PLR by 15 bps. These rates are effective from September 25, 2023.
HDFC Bank MCLR Rates:
Night MCLR: 8.60%
- 1 month: 8.65%
- 3 months: 8.85%
- 6 months: 9.10%
- 1 year: 9.20%
- 2 years: 9.20%
- 3 years: 9.25%
HDFC Bank Base Rate: The new rate is 9.25% effective from September 25, 2023. Earlier it was 9.20%.
HDFC Bank Benchmark PLR: The new rate is 17.85% effective from September 25, 2023. Earlier it was 17.70%.
MCLR Rates of Other Banks (October 2023):
HDFC Bank Benchmark PLR: The new rate is 17.85% effective from September 25, 2023. Earlier it was 17.70%.
MCLR Rates of Other Banks (October 2023):
