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Private sector bank hikes lending rate for third time since May

Mumbai: The largest private sector bank in the country, HDFC Bank has hiked its marginal cost of funding based lending rate (MCLR)  across all tenors. The lender has hiked the MCLR by 0.20%. This is the third hike in the rate since May this year. Thus the total hike in the rate is at 0.80% now.

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As per the new rates, the 1-year MCLR rate will be 8.05%. At present the rate is at 7.85%.  The overnight MCLR will be 7.70%. At present it is at 7.50%. The 3-year  MCLR will be 8.25%.


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