HDFC Bank Hikes Lending Rates MCLR Rates Up

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HDFC Bank MCLR Rates: Private sector HDFC Bank has given a big blow to the customers. If you also have an account in this bank and you have taken a loan, then your EMI is going to increase further. The bank has increased the rates of MCLR from today. HDFC Bank has increased even before the results of the RBI meeting.

35 basis point increase
The bank has increased the MCLR rates by 35 basis points. The new rates of HDFC Bank have come into effect from 7th June i.e. today. From today onwards, the EMI of all the customers who have taken the loan has increased.

Check what are the new rates?
According to the bank’s website, the rate of overnight loan to customers has increased from 7.15 percent to 7.50 percent from today. At the same time, one-month MCLR rates have increased to 7.55 percent, 3-month MCLR rate to 7.60 percent and 6-month rate to 7.70 percent.

Let’s check the latest rates of HDFC Bank-

    • Overnight – 7.50 percent
    • 1 month – 7.55 percent
    • 3 months – 7.60 percent
    • 6 months – 7.70 percent
    • 1 year – 7.85 percent
    • 2 years – 7.95 percent
    • 3 years – 8.05 percent

Earlier many more banks have also increased the rates
Apart from this, State Bank of India, Bank of Baroda, Axis Bank and Kotak Mahindra Bank have also increased the rates of MCLR. Last month, RBI suddenly increased the repo rates, after which all the banks increased the rates of MCLR.

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