After the Reserve Bank of India (RBI) announced its monetary policy, HDFC Bank has given some relief to its customers. The bank has revised its MCLR (Marginal Cost of Funds Based Lending Rate) for selected loan periods.
This change will benefit customers whose loans are linked to MCLR.
The new rates came into effect on February 7, 2026.
Change in HDFC Bank’s MCLR
HDFC Bank has reduced its three-year MCLR by 5 basis points (0.05%). However, MCLR rates for all other tenures have remained unchanged.
This means only customers with loans linked to the three-year MCLR will benefit from this reduction.
Current MCLR Rates of HDFC Bank
After the revision, HDFC Bank’s MCLR now ranges from 8.25% to 8.60% for different loan tenures.
Earlier, the range was 8.25% to 8.55%.
Although the overall change is small, it offers some relief to long-term loan borrowers.
Rates That Remain Unchanged
The following MCLR tenures have not changed:
Overnight
One-month
Three-month
Six-month
One-year
Two-year
Loan EMIs for these periods will remain the same. Only loans linked to the three-year MCLR may see a reduction in EMIs.
Impact of RBI’s Monetary Policy Decision
On February 6, 2026, the RBI kept the repo rate unchanged at 5.25% in its monetary policy meeting.
Earlier, the RBI had reduced the repo rate by 0.25% in December 2025.
Even though the RBI did not change rates this time, HDFC Bank still decided to reduce its three-year MCLR.
What is MCLR?
MCLR is the minimum interest rate at which a bank can give loans. It is calculated based on the bank’s funding cost.
If your home loan, car loan, or personal loan is linked to MCLR, a reduction in MCLR can help lower your EMI.
Other Important HDFC Bank Rates
Base Rate: 8.80% (effective from December 26, 2025)
Benchmark PLR: 17.30%
Fixed Deposit Rates:
General customers: 2.75% to 6.45%
Senior citizens: 3.25% to 6.95%
Final Summary
Customers with loans linked to the three-year MCLR may get EMI relief.
All other customers will not see any change in their loan EMIs for now.
