By News Desk 
HDFC Bank is a big bank of the country where crores of customers take service and now HDFC Bank has made a big announcement. Actually a big decision has been taken to cut MCLR. This step has been taken by the bank and it is no less than a gift for all the customers taking loan from HDFC Bank.
HDFC MCLR RATE
Actually, MCLR is a rate fixed by the Reserve Bank of India which is used by banks to decide the interest rate of the loan. Now HDFC Bank has cut MCLR by 15 basis points. After this HDFC MCLR has gone up from 9 to 9.20% which was earlier between 9.10-9.35%.
HDFC MCLR RATE Decrease
After the announcement by HDFC Bank, the new MCLR rates have come into effect from Wednesday. Now the MCLR of the bank for overnight and one month loan has become 9 percent and for 3 month loan it has become 9.05 percent and for 6 month loan it has become 9.10%. On the other hand, if we talk about 1 year loan, then it has been reduced by 15 basis points and now it has become 9.15% instead of 9.3%.