In the midst of the outbreak of Corona, India's major bank HDFC Bank has made arrangements for mobile ATMs across the country. With this facility, customers will now be able to withdraw cash from the ATM van standing at their doorstep. Apart from this, the bank has reduced interest on the loan by 0.20 percent. The bank has cut the interest rate due to the reduction in the cost of loans. According to the bank's website, the fund's marginal cost based interest rate (MCLR) has been reviewed for all term loans from Tuesday.

It is believed that after this change the MCLR for one day will be 7.60 percent while for one year loan will be 7.95 percent. Most loans are linked to the one-year MCLR. The MCLR will be 8.15 percent on a three-year loan. The new rates become effective from April 7.

For your information, let us tell you that SBI had also announced a reduction in MCLR based loan rates. The new rates will be applicable from 10 April. The bank announced a 0.35% reduction in the MCLR based interest rate. Also, the bank has reduced the interest rate on savings account deposits by 0.25 percent to 2.75 percent. The new rates will be applicable from 10 April. At the same time, to prevent the corona virus epidemic, people do not have to go away from their homes to withdraw cash, for this HDFC Bank has started this facility. The mobile ATM will be available for a specified period at a particular location. During this period, the mobile ATM will stop at 3-5 places between 10 am and 5 pm. Its trial has been done, it will be expanded soon.

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