Money & Banking

HDFC Bank cuts lending rates by 10 basis points

Our Bureau Mumbai | Updated on August 06, 2019 Published on August 06, 2019

HDFC Bank cut the marginal cost-based lending rates (MCLR) by 10 basis points across all tenors. File Photo

HDFC Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 10 basis points across all tenors. Sources said the new lending rates will be effective from August 7. With this, the one-year MCLR for the bank is now at 8.6 per cent. The move comes just a day before the third bi-monthly monetary policy review by the Reserve Bank of India (RBI).

Published on August 06, 2019
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