- LATEST
- WEBSTORY
- TRENDING
PERSONAL FINANCE
HDFC bank: Loans now more expensive; rates on your EMI to go up
Loans from the private sector bank HDFC Bank are now more expensive as a result of the bank's higher MCLR.
Updated : Nov 08, 2022, 02:10 PM IST | Edited by : Raunak Jain
 "HDFC Bank, HDFC Bank Loan, HDFC Bank Home Loan, HDFC Bank Car Loan, HDFC Bank interest Rates, HDFC")
TRENDING NOW
)
Shilpa Shetty breaks down, Salman Khan cancels shoot; celebs rush to Lilavati hospital after Baba Siddique shot dead
)
Amid divorce rumours of Aishwarya, Abhishek Bachchan, video of Jaya announcing his engagement with Karisma goes viral
)
Bigg Boss 18: Rajat Dalal, Vivian Dsena, Avinash Mishra, Chahat Pandey, top 5 most popular contestants this week
)
Aishwarya Rai's biggest flop was rejected by Priyanka Chopra, ruined director's career, didn't earn even Rs 10 crore
)
Bigg Boss 18: Shilpa Shirodkar is in awe of Avinash Mishra, comments on muscular body, says 'when he removes his...'
)
'Fake drama': Sania Mirza, Shoaib Malik celebrate their son Izhaan's birthday in Dubai; netizens troll Pak cricketer due
)
Amid Aishwarya Rai, Abhishek Bachchan's divorce rumours, Amitabh Bachchan quietly visits Mumbai temples for his son's..
)
Aishwarya Rai fans express anger after Abhishek Bachchan, Amitabh Bachchan skip her birthday post: 'She needs to...'
)
Meet IAS officer who cracked UPSC exam twice without coaching, became youngest IPS at 21, is Vikas Divyakirti's...
)
Pakistani TikTok star Minahil Malik reacts after leaked video with boyfriend goes viral, says, 'I'm done...'
)
Rinku Singh buys luxurious bungalow after being retained by KKR for Rs 13 crore, SEE pics
)
Gandii Baat, XXX show actress Aabha Paul looks stunning in sultry photos, sexy videos
)
Amid linkup rumours with Abhishek Bachchan, Nimrat Kaur drops Diwali photos with cryptic note: 'Mere ghar se...'
)
Meet Rasha Thadani, Raveena Tandon's 19-year-old glamorous daughter, set to make her debut opposite Ajay Devgn's...
)
Amaran box office collection day 5: Sivakarthikeyan film beats lifetime earnings of Kamal Haasan's Indian 2, earns Rs...
HDFC Bank: Customers who borrow money from HDFC Bank will now pay extra interest on their loans. All-duration loans from HDFC Bank now have higher interest rates. This resulted from an increase in loan rates by HDFC Bank based on the Marginal Cost of Lending Rate (MCLR). These took effect on November 7th, which was yesterday, and as a result, the bank's EMI for debtors has increased.
How much rate did the bank increase:
On loans with a one-night tenure, the bank's MCLR has gone up from 7.90 per cent to 8.20 per cent, according to the HDFC Bank website. The MCLR for the month-long loan has also been lowered to 8.25 per cent. In addition, the MCLR for loans with terms of three to six months has gone up from 8.30 per cent to 8.40 per cent.
The MCLR for loans with a one-year term has increased at HDFC Bank to 8.55 per cent. At the same time, the MCLR, which was formerly 8.30 per cent for a tenure of two years, will now be 8.65 per cent. On loans with a three-year term, the bank raised the MCLR rate from 8.40 per cent to 8.75 per cent.
Why bank loans would cost more because of the rise in MCLR:
The majority of banks base their loan interest rates on one-year MCLR, making all of their loans, including personal loans, vehicle loans, and home loans, more expensive as a result.
