HDFC Bank Loan Rate: BIG News For Borrowers! HDFC Bank Cuts MCLR Rate On Select Tenures

HDFC Bank Loan Rate: Private lender HDFC Bank has slashed its marginal cost of fund-based lending rates for different tenures by 5 basis points. The move is likely to benefit borrowers whose loans are linked to this regime. In another development, HDFC Bank's longest three-year tenure now carries a 5 basis point hike.

From May 7, 2026 onwards, HDFC Bank MCLR band now stands between 8.05% and 8.6%. Here are all the details about HDFC Bank MCLR linked loan rates.

What Has Changed For HDFC Bank Borrowers?

Earlier, HDFC Bank MCLR band range was between 8.1% and 8.55%. The updated structure now offers a slightly cheaper short-term borrowing but a costlier three-year option. These adjustments apply to borrowers whose floating-rate loans are benchmarked to HDFC Bank MCLR. It will also influence EMIs based on the reset date of each loan.

HDFC Bank MCLR Changes On Short-Term Tenures

HDFC Bank customers opting for short-term tenures loans linked to MCLR will see a sharp change in rates. Overnight, one-month, three month and six-month slabs of HDFC Bank MCLR have seen sharp surge in rates. Each of these has been reduced by 5 basis points from the rates valid on 7 April 2026. This cut may benefit customers with working capital loans, short-term facilities and some flexible home or personal loans.

New HDFC Bank MCLR Rates

Post rate revision, the overnight and one-month HDFC Bank MCLR levels now stand at 8.05% and 8.10%. The three-month rate has now been shifted to 8.15% from 8.2%. The six-month figure has eased to 8.30% from 8.35%. These reductions are modest but can lower interest outgo over time.

HDFC Bank MCLR Slabs For One-year, two-year and three-year

The medium-term portions of the HDFC Bank MCLR grid remain largely steady. The one-year rate continues at 8.35%, while the two-year rate stays at 8.45%. In contrast, the three-year MCLR has increased by 5 basis points, from 8.55% to 8.60%, making longer-term borrowing slightly more expensive.

Here is the revised HDFC Bank MCLR structure effective 7 May 2026, across all published tenures:

Tenor	MCLR
Overnight	8.05%
1 Month	8.05%
3 Month	8.15%
6 Month	8.30%
1 Year	8.35%
2 Year	8.45%
3 Year	8.60%

What is MCLR?

Marginal Cost of Funds-based lending rate is the minimum lending benchmark that is used by banks for different types of loans, including home loans. It sets the lowest permissible rate for many rupee loans, unless rules stated by the RBI allow otherwise. The RBI put the MCLR framework in place in 2016, replacing the earlier base rate system for new floating loans.

Alongside HDFC Bank MCLR, other internal benchmarks remain relevant for older loans. The current base rate of HDFC Bank is 8.80%, effective from 26 December 2025. For loans linked to the benchmark prime lending rate, the bank's benchmark PLR stands at 17.30% per annum, also effective from 26 December 2025.