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Banks Adjust Lending Rates: HDFC Cuts, BoB Hikes
11 Aug
Summary
- HDFC Bank reduced its lending rates by five basis points.
- Bank of Baroda increased its three-month lending rate by ten basis points.
- These changes became effective in early August 2026.
HDFC Bank has decreased its marginal cost of funds based lending rate (MCLR) by five basis points for all tenors. These new rates became effective from August 7, 2026.
Conversely, Bank of Baroda will raise its three-month MCLR by ten basis points. This revision is set to take effect from August 12, 2026. Other rates for Bank of Baroda will remain unchanged.
These adjustments reflect the banks' evolving marginal costs of funds. The Reserve Bank of India recently held its policy repo rate steady at 5.25% in its latest review.
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