Private sector lender HDFC Bank has announced a hike in its lending rates at a time when most lenders are moving northwards with interest rates.
The bank has raised its lending rates by as much as 25bps. The base rate of the bank thus stands at 9.5% while the benchmark prime lending rate (BPLR) stands at 18%.
The revised rates are to come to effect from today.
This is an indicative that all retail loans of the bank are going to see a hike by atleast 25 bps.