Mumbai: HDFC Bank has announced a reduction in its loan interest rates, offering relief to customers with home, car, or personal loans linked to the Marginal Cost of Funds Based Lending Rate (MCLR). The bank has cut MCLR by up to 10 basis points (0.10 percent), and the new rates came into effect from November 7.

The new MCLR rates now range between 8.35 percent and 8.60 percent, compared to the earlier range of 8.45 percent to 8.65 percent. This means the bank has lowered lending rates by 5 to 10 basis points across different loan tenures. In simple terms, if your loan is linked to MCLR, your interest rate will now be slightly lower. Read Also Union Bank Car Loan Starts at 7.90%, SBI Also Cuts Interest Rates — Keep Loan Tenure In Mind

Revised Rates and Loan Tenures

The lowest rate o

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