HDFC Bank cuts MCLR by 10 bps across tenors, effective from today
After the rate reduction, its overnight MCLR stands reduced to 7%, while one-month MCLR is 7.05%, according to the HDFC Bank website
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People walking past an HDFC Bank branch in Mumbai | Photo: PTI
India's largest private sector lender, HDFC Bank on Friday cut its marginal-cost based lending rate (MCLR) on loans across tenors by 10 basis points.The rate cut is effective from Friday (August 7), according to its website.