HDFC Bank cuts lending rates by 0.1% effective 30 March

New Delhi: HDFC Bank has decided to cut its benchmark lending rates by 0.1 percent with effect from 30 March.

The base rate, or the minimum lending rate, of the country’s second largest private sector bank will become 9.6 percent from the existing 9.7 percent, sources said.

At the same time, the benchmark prime lending rate (BPLR) of the bank is expected to be slashed by similar margin to 18.10 percent.

The new rates would be effective from 30 March, sources added.

HDFC Bank has become the first bank to cut lending rate after the RBI cut the short-term lending rate by 0.25 percent on 19 March.

PTI