HDFC Bank Raises MCLR: HDFC Bank has raised its MCLR, which is the internal rate it uses to set the lowest lending rate on many loans. The new rates came into effect on June 8, 2026. The move came just after the Reserve Bank of India kept its policy repo rate unchanged at 5.25% at its June meeting. RBI also held a neutral stance, as it watched energy prices, supply worries, and the wider impact of the West Asia crisis.
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What does MCLR mean?
MCLR stands for marginal cost of funds-based lending rate, basically it’s the minimum rate a bank can charge for many loans. It was introduced by the RBI in April 2016 to make loan pricing clearer and more linked to market conditions. When MCLR goes up, EMIs can become costlier for borrowers, but the change usually matters only when the loan reaches its next reset date. So, if a loan is tied to a one-year MCLR, the new rate will normally show up only after that reset time.
HDFC MCLR
| Tenor | Revised MCLR | Previous MCLR |
|---|---|---|
| Overnight | 8.10% | 8.05% |
| 1 month | 8.05% | 8.05% |
| 3 month | 8.20% | 8.15% |
| 6 month | 8.35% | 8.30% |
| 1 year | 8.40% | 8.35% |
| 2 year | 8.55% | 8.45% |
| 3 year | 8.65% | 8.60% |
What Changed for HDFC Bank Customers
After the revision, HDFC Bank’s MCLR now ranges from 8.05% to 8.65%, up from the earlier 8.05% to 8.60%. The biggest jump was in the two-year tenure, which moved up by 10 basis points to 8.55% from 8.45%. The one-year MCLR, which is used for many auto, personal, and home loans, is now 8.40%, after a rise of 5 basis points.
The overnight, three-month, six-month, and three-year rates were also lifted by 5 basis points to 8.10%, 8.20%, 8.35%, and 8.65%. The only rate that stayed the same was the one-month MCLR, which remains at 8.05%.
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Other HDFC Bank Rates
HDFC Bank had lowered some of its MCLR rates a month earlier, including the overnight, one-month, three-month, and six-month tenors. The bank also lists other rates on its website. Its fixed deposit page shows resident FD rates for deposits below ₹3 crore starting at 2.75% for the shortest tenures and going up to 6.50% for longer ones, while senior citizen rates go from 3.25% to 7.00%, depending on tenure. The savings account rate on the official site is 2.50% across balances.
