EMIs to go up! HDFC Bank hikes benchmark MCLR. Check lending rates here

Private sector lender HDFC Bank has hiked the benchmark marginal cost of funds-based lending rates by up to 10 basis points on select tenures. HDFC Bank loan interest rates After the latest hike, HDFC Bank's overnight MCLR is now 8.60%. HDFC Bank's Marginal Cost Of Funds-Based Lending Rates effective 7 October 2023 Overnight 8.60% 1 Month 8.65% 3 Month 8.85% 6 Month 9.10% 1 Year 9.20% 2 Year 9.20% 3 Year 9.25% Marginal cost of funds-based lending rates MCLR is the minimum interest rate that banks are required to charge for a specific loan. From October 1, 2019, all banks, including SBI, have to lend only at an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield.