HDFC Bank: Big news for HDFC Bank customers. HDFC Bank has lowered its marginal cost of funds-based lending rates (MCLR) by as much as 5 basis points (bps) for specific tenures. This adjustment will be advantageous for borrowers whose loans are tied to this system. To clarify, one basis point equals one-hundredth of a percentage point.
As per the details on the bank’s official website, the new MCLR rates from HDFC Bank took effect on April 7, 2026. Following this update, the MCLR rates now vary from 8.10% to 8.55%, based on the loan tenure. Previously, these rates were between 8.15% and 8.55%.
Here are the updated lending rates of HDFC Bank
The bank has adjusted its MCLR for certain short-term tenors, while most medium- and long-term tenors remain unchanged. The overnight and one-month MCLR has been decreased from 8.15% to 8.10%, and the three-month MCLR has been lowered from 8.25% to 8.20%, marking a reduction of 0.5%. However, the six-month, one-year, two-year, and three-year MCLR rates stay the same at 8.35%, 8.35%, 8.45%, and 8.55%, respectively.
What is MCLR?
The Marginal Cost of Funds-Based Lending Rate (MCLR) represents the minimum interest rate that a financial institution must apply to a particular loan. It establishes a lower boundary for the interest rate on loans. This rate remains fixed for borrowers unless the RBI specifies otherwise. The RBI introduced the MCLR in 2016.
HDFC Bank Base Rate
HDFC Bank’s current base rate stands at 8.80%, effective from December 26, 2025. The bank’s benchmark PLR (BPLR) is 17.30% per annum, also effective from December 26, 2025. HDFC Bank updated its fixed deposit (FD) interest rates as of March 6, 2026. The bank provides FD interest rates ranging from 2.75% to 6.50% for general customers and from 3.25% to 7% for senior citizens.
HDFC Bank has raised the interest rate by 10 basis points (bps) from 6.40% to 6.50% for FDs with tenures from 3 years 1 day to less than 4 years 7 months. For senior citizens, the interest rate for these tenures has been increased from 6.90% to 7%.
