HDFC Bank hikes PLR by 75 bps

Mumbai, Jul 1: Second largest private sector lender, HDFC Bank has hiked its Prime Lending Rate (PLR) by 75 basis points (bps) to 16.00 per cent flat with effect from today and term deposit rates for various slab with a margin of 50-100 bps with effect from July 3.

The Bank has revised its rates twice with in a fortnight by increasing PLR by 100 bps in two stages -- by 25 bps on June 16 to 15.25 from 15.00 per cent and by 75 bps to 16.00 per cent today, the Bank's spokesperson told sources. The term deposit rates have been also revised under which the interest earnings on term deposits would increase by 50 to 100 bps for various slabs with effect from July 3, he added.

UNI