HDFC bank Reduces the Cost of Loans

HDFC bank has decided to reduce its benchmark loan rate by 0.1% so the loan cost will reduce for its consumers. According to sources Bank's base rate or the minimum lending rate will be 9.7%, the current rate is 9.8%. The other largest private bank of the country is also planning to reduce the benchmark loan cost BPLR by the same rate. These new rates will be applied from the New Year.

HDFC bank has become the first bank to reduce the loan rate in quarterly monetary policy on January 29. The Reserve Bank has already indicated that it will review the policy rate cut would consider.

HDFC bank has decided to reduce its benchmark loan rate by 0.1% so the loan cost will reduce for its consumers. According to sources Bank's base rate or the minimum lending rate will be 9.7%, the current rate is 9.8%. The other largest private bank of the country is also planning to reduce the benchmark loan cost BPLR by the same rate. These new rates will be applied from the New Year.

HDFC bank has become the first bank to reduce the loan rate in quarterly monetary policy on January 29. The Reserve Bank has already indicated that it will review the policy rate cut would consider.