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HDFC Bank slashes MCLR by up to 5 bps
HDFC Bank, India's biggest private lender, has cut its MCLR (that's the rate your EMIs are often linked to) by up to 5 basis points for select tenures.
The new rates, now between 8.55% and 8.75%, kicked in from August 7, 2025.
If you have a home, car, or personal loan tied to MCLR, your interest may get a little lighter during your next reset period.
Borrowers with MCLR-linked loans may benefit
The move follows the RBI's recent decision to keep its repo rate unchanged after several earlier cuts aimed at making borrowing easier as inflation cooled off.
With these tweaks, borrowers with MCLR-linked loans, such as home, car, or personal loans, could see slightly lower borrowing costs—good news if you're watching your finances closely!