HDFC bank slashes lending rate by 25 basis points

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HDFC
New Delhi, Jul 20: HDFC on Monday, Jul 20 said that it will be cutting benchmark lending rate by 25 basis points to 15.75 per cent with effect from Jul 20.

The country's second largest private sector lender cut the lending rates following the reduction in the fixed deposits rate effective from May 18.

The bank brought down its Prime Lending Rate in Dec 2008 by 50 basis points to 16 per cent. This together with the current cut accounts for reduction of 75 basis points in a period of six months.

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