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You are at:Home » HDFC Bank will raise the MCLR rate during this tenure
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HDFC Bank will raise the MCLR rate during this tenure

Adnan MaharBy Adnan MaharFebruary 9, 2025No Comments2 Mins Read0 Views
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HDFC Bank has increased the marginal cost of its overnight tenure fund-based lending rate (MCLR) to 5 basis points (BPS). The new rate is 9.20%, up from 9.15%, which came into effect on February 7, 2025.

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This hike occurs despite the Reserve Bank of India (RBI) dropping from 6.5% to 6.25%. This is the first reduction in five years and aims to ease borrowing costs for home buyers.

The bank has not changed its MCLR rate for all other tenures;

The revised fees are as follows:
tenuremclr (%) innight9.20%1 month9.20%3 months9.30%6 months99.40%1 year99.40%2 year99.45%
With this revision, HDFC Bank’s MCLR ranges from 9.20% to 9.45%.

What is MCLR?

The marginal cost of a fund-based loan rate (MCLR) is the claim of the minimum interest rate bank for the loan. We will set a lower limit on loan interest rates unless revised by the Reserve Bank of India (RBI). RBI introduced MCLR in 2016 to ensure fair pricing for borrowers.

Borrowers with loans linked to MCLRs will see changes in loan EMI when their MCLR rates fluctuate.

Those with loans adopted prior to 2016 will still be subject to a base rate or Benchmark Prime Lending Rate (BPLR).

As MCLR increases, so does EMI for loans such as home, individuals, and business loans.



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Adnan Mahar
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Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.

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