Your HDFC Bank loan EMIs are about to go up
What's the story
HDFC Bank has announced an increase in its Marginal Cost of Funds-based Lending Rates (MCLR) across all tenures. The revision, effective from November 7, 2026, will lead to higher EMIs for borrowers with loans linked to the MCLR. The hike ranges between five and 15 basis points (bps), depending on the loan tenure.
Rate adjustment
Overnight MCLR raised to 7.85%
The new MCLR rates set by HDFC Bank range from 7.85% to 8.70%.
This is an increase from the previous rates of 7.75% to 8.55%, depending on the loan tenure.
The overnight MCLR has been raised from 7.80% to 7.85%, while the one-month and three-month MCLRs have been increased from 7.75% and 7.95% respectively, both now at an increased rate of 7.85% and 8.05% each for November.
Tenure impact
One-year MCLR increased by 15 bps
The bank has also increased its six-month MCLR from 8.15% to 8.30%, and one-year MCLR from 8.30%-8.45%. The two-year and three-year MCLRs have been raised by 15 bps each, now standing at an increased rate of 8.55% and 8.70% respectively for November.
Loan impact
Impact on loans
The latest rate changes will affect all loans linked to the MCLR, including existing home and personal loans as well as other retail loans.
However, not all HDFC Bank customers will see an immediate increase in their EMIs after an MCLR change.
Banks may take some time before announcing a hike in their loan rates linked to the revised MCLRs.