HDFC Bank on Thursday increased the Marginal Cost of Funds-Based Lending Rates (MCLR) for select short-term tenures from November 7, 2024. The loan rate revision, which sees an increase of up to 5 basis points (bps), applies to the overnight, one-month, and three-year tenures, the bank said on its website.
After the loan rate hike, the overnight MCLR has gone up to 9.15% from 9.10%, while the one-month MCLR has moved up to 9.20% from 9.15%. Moreover, the three-year MCLR, on the other hand, has increased to 9.50% from 9.45%. Along with these three tenures, there has been no change in the rates for other tenures.
However, the three-month MCLR remains at 9.30% and the six-month and one-year MCLRs are both set at 9.45%. Similarly, the two-year MCLR also stays at 9.45%.
| Tenor | MCLR |
| Overnight | 9.15% |
| 1 Month | 9.20% |
| 3 Month | 9.30% |
| 6 Month | 9.45% |
| 1 Year | 9.45% |
| 2 Year | 9.45% |
| 3 Year | 9.50% |
HDFC Bank: Check the latest loan rates in November 2024
The HDFC bank increased the loan rates by 5 bps on overnight and one month tenure months and 3 years tenure. But it has not revised any lending rates apart from these two tenures. For overnight, now the bank offers 9.15% from 9.10% and for one month it is 9.20% from 9.15%. For the three-month tenure, the bank offers 9.30% interest rate.
Check HDFC Bank’s prime lending rate
HDFC Bank said its benchmark Prime Lending Rate is 17.95% p.a. with effect from September 9, 2024 and the revised Base Rate will be 9.45% and will be effective from September 9, 2024.