HDFC Bank has increased lending rates by 5-10 basis points over the life of the loan. The central bank raised its key interest rate by 50 basis points last week. From 8 August 2022, HDFC Bank has increased the Marginal Lending Rate (MCLR) by 5-10 basis points for all loan terms based on the cost of capital.

One basis point is one-hundredth of a percentage point. Last week, the RBI‘s Monetary Policy Committee (MPC) meeting raised the repo rate by 50 basis points to 5.4%. At the beginning of June this year, HDFC Bank raised the FD rate by 25 basis points.