HDFC again gave a shock: 25 basis points increase in MCLR, all types of loans will be expensive, EMI burden will increase

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HDFC Bank has once again given a big blow to its customers. Actually, the bank has increased the MCLR by 25 basis points, its effect will be on all types of loans. In other words, the EMI burden will increase on the customers taking loan from this bank. According to the report, the new rates will be applicable from May 7.

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So much LCLR after increase
HDFC Bank has increased the marginal cost of lending (MCLR) by 25 basis points. It is worth noting that MCLR is the interest rate on the basis of which the interest rate of the bank for the loan is decided. That is, for any type of loan, the interest rate cannot be lower than this. After this increase, HDFC Bank's MCLR will be in the range of 7.10 to 7.70, earlier it was between 6.90 to 7.75 percent. Let us tell you that before this, HDFC has also recently increased the RPLR retail prime lending rate.

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So much interest for different periods
According to the HDFC Bank website, after this change, the MCLR has now increased to 7.15 percent for one night, 7.20 percent for one month, 7.25 percent for three months, 7.35 percent for six months. Apart from this, if we talk about one year loan, it is 7.50 per cent, for two years it is 7.60 per cent, while for loans of three years or more, it is 7.70 per cent.