You will get cheap loan here
If you are also going to buy a house then this news is for you. Because the country’s largest private bank HDFC Bank has reduced its Marginal Cost of Funds-based loan rates i.e. MCLR, which will benefit the loan takers linked to this rate. The bank has reduced its MCLR rates by 10 basis points (bps) on certain loan tenures. One basis point is one hundredth of a percent. The new MCLR rates will be applicable from 7 November 2025. After the new rates, HDFC Bank’s MCLR now ranges between 8.35% to 8.60% depending on the loan tenure. Earlier it was between 8.45% to 8.65%.
HDFC Bank new MCLR rates
HDFC Bank has changed its MCLR rates, after which the new rates for all tenors have now come into effect. The bank has reduced the overnight MCLR by 10 basis points from 8.45% to 8.35%. One month MCLR has also reduced from 8.40% to 8.35%. The three-month MCLR has been reduced by 5 basis points, bringing it down from 8.45% to 8.40%. Six month MCLR has been reduced from 8.55% to 8.45%. Apart from this, one year MCLR has reduced from 8.55% to 8.50%. The two-year MCLR has been reduced from 8.60% to 8.55% and the three-year MCLR has been reduced from 8.65% to 8.60%. After all these deductions, borrowers will have to pay slightly less interest on the loan.
What is MCLR?
MCLR is the lowest interest rate at which a bank can give a loan. That means the interest rate of any loan cannot go below this. This rate remains fixed for the borrowers, unless RBI asks to change it. RBI started the MCLR system in 2016.
HDFC Bank Home Loan Interest Rates
According to HDFC Bank website, home loan interest rates are linked to the repo rate. Home loan interest rates for salaried and self-employed people range between 7.90% to 13.20% till November 7, 2025. This is how the bank decides the interest rate on home loan. Repo rate + 2.4% to 7.7% = 7.90% to 13.20%
hdfc bank base rate
- The base rate of the bank is 8.90% from 19 September 2025.
- The benchmark PLR (BPLR) has been changed to 17.40% from 19 September 2025.