HDFC Bank has revised its loan interest rates for several loan tenures.
The bank has reduced Marginal Cost of Funds-Based Lending Rates (MCLR) by 5 basis points (0.05%) for some periods, giving relief to borrowers whose loans are linked to MCLR.
However, the bank has also increased the rate for one specific tenure.
The new rates came into effect from May 7, 2026.
After the latest revision, HDFC Bank’s MCLR now ranges between 8.05% and 8.60%.
Which Loan Rates Have Been Reduced?
HDFC Bank has cut MCLR rates for short-term tenures including:
Overnight loans
One-month loans
Three-month loans
Six-month loans
The overnight and one-month MCLR rates have been reduced from 8.10% to 8.05%.
The three-month MCLR has come down from 8.20% to 8.15%, while the six-month rate has been reduced from 8.35% to 8.30%.
This reduction may slightly lower EMIs for borrowers whose loans are linked to these tenures.
Which Rates Remain Unchanged?
The bank has not made any changes to:
1-year MCLR: 8.35%
2-year MCLR: 8.45%
These rates remain the same as the previous revision made in April 2026.
3-Year MCLR Increased
While most short-term rates were reduced, HDFC Bank increased the 3-year MCLR by 5 basis points.
The rate has gone up from 8.55% to 8.60%.
This means some long-term borrowers linked to the 3-year benchmark may see a slight increase in their interest cost.
Latest HDFC Bank MCLR Rates
| Loan Tenure | New MCLR Rate |
|---|---|
| Overnight | 8.05% |
| 1 Month | 8.05% |
| 3 Months | 8.15% |
| 6 Months | 8.30% |
| 1 Year | 8.35% |
| 2 Years | 8.45% |
| 3 Years | 8.60% |
What is MCLR?
MCLR stands for Marginal Cost of Funds-Based Lending Rate.
It is the minimum interest rate below which banks generally cannot lend money.
Loan interest rates for many home loans, personal loans, and other borrowings are linked to MCLR.
The Reserve Bank of India (RBI) introduced the MCLR system in 2016 to make loan rate transmission faster and more transparent.
HDFC Bank Base Rate and BPLR
HDFC Bank’s current:
Base Rate is 8.80%
Benchmark Prime Lending Rate (BPLR) is 17.30%
Both rates have been effective since December 26, 2025.
HDFC Bank FD Rates Also Updated
Apart from loan rates, HDFC Bank had earlier revised its Fixed Deposit (FD) interest rates from March 6, 2026.
The bank currently offers:
2.75% to 6.50% interest for general customers
3.25% to 7% interest for senior citizens
The bank also increased FD interest rates by 10 basis points for deposits with tenures between 3 years 1 day and less than 4 years 7 months.
For senior citizens, the FD rate for this tenure has increased from 6.90% to 7%.
