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    HomeNewsBusinessBanksHDFC Bank hikes rates by 5-10 bps across loan tenures

    HDFC Bank hikes rates by 5-10 bps across loan tenures

    This comes after the central bank bumped up the key rate by 50 basis points last week.

    Moneycontrol News
    August 08, 2022 / 11:04 IST

    HDFC Bank has hiked lending rates by 5-10 basis points across loan tenures.

    This comes after the central bank bumped up the key rate by 50 basis points last week.

    HDFC Bank has hiked its Marginal Cost of Funds Based Lending Rate (MCLR) across all loan tenures by 5-10 basis points (bps) with effect from today, 8 August 2022.

    One basis point is one-hundredth of a percentage point.

    The rate hike comes after RBI's Monetary Policy Committee (MPC) meeting last week in which the they had hiked repo rate by 50 basis points to 5.4 per cent.

    Earlier in June this year, HDFC bank had hiked its FD interest rates by 25 basis points.

     

    Moneycontrol News
    first published: Aug 8, 2022 10:39 am

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