Mumbai: has reduced its Marginal Cost of Funds-based Lending Rates (MCLR) across tenures by five to 10 basis points, offering relief to borrowers with loans linked to the benchmark.
The revised rates came into effect on September 7, 2026, according to information published on the private sector lender’s official website. One basis point is equal to one-hundredth of a percentage point.
Following the revision, ranges between 7.90 percent and 8.60 percent, compared with the earlier range of 8 percent to 8.65 percent.
Latest HDFC Bank MCLR Rates
The overnight and one-month MCLR rates have been lowered by 10 basis points each to 7.90 percent from 8 percent.
The three-month rate has also declined by 10 basis points to 8.05 percent from 8.15 percent.
HDFC Bank has reduced its six-month MCLR by five basis points to 8.25 percent, while the one-year rate has been cut by an identical margin to 8.35 percent.
The two-year MCLR has fallen by 10 basis points to 8.45 percent. The three-year rate has been lowered by five basis points to 8.60 percent.
What The Reduction Means
MCLR is the minimum rate at which a bank can generally lend under this framework. Introduced by the Reserve Bank of India in 2016, it is calculated using factors such as funding costs, operating expenses and tenure premiums.
Borrowers with MCLR-linked floating-rate loans may benefit when their interest rate is reset, depending on the loan agreement and reset date.
Base Rate, BPLR And FD Rates
HDFC Bank’s base rate stands at 8.70 percent, effective June 24, 2026. Its Benchmark Prime Lending Rate is 17.20 percent annually, down from 17.30 percent.
The bank offers fixed-deposit rates of 2.75 percent to 6.50 percent for general customers and 3.25 percent to 7 percent for senior citizens.