HDFC Bank: Cuts Lending Rates by 0.1%..!


HDFC Bank has decided to cut its benchmark lending rates (BLR) by 0.1% with effect from March 30, 2013

The base rate, or the minimum lending rate, of India's second largest private sector bank will become 9.6 % from the existing 9.7%.

At the same time, the benchmark prime lending rate (BPLR) of the bank is expected to be slashed by similar margin to 18.10 %.The new rates would be effective from March 30, 2013.

HDFC Bank has become the first bank to cut lending rate after the RBI (Reserve Bank of India) cut the short-term lending rate by 0.25 % on March 19, 2013.
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