HDFC Bank cuts MCLR rates up to 10 basis points
HDFC Bank just lowered its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points, starting September 7, 2026.
If you have an MCLR-linked loan, your interest rate could drop a bit, with new rates now between 7.90% and 8.60%.
It's a small shift, but it might help make those monthly payments a little easier.
HDFC Bank overnight 1-month MCL₹7.90%
The biggest cuts are for overnight, one-month, three-month, and two-year loans, all down by 10 basis points.
Overnight and one-month MCLRs are now at 7.90%, three-month MCLR drops to 8.05%, while six-month and one-year rates see smaller decreases (now at 8.25% and 8.35%).
Longer-term three-year loans also get trimmed to 8.60%.
If your loan is linked to external benchmarks, though, this change won't impact you directly.
Overall, it's some welcome relief for anyone with an MCLR-based EMI coming up!