HDFC Bank Update : HDFC Bank has announced four significant changes for its customers. The bank has revised loan interest rates, fixed deposit (FD) interest rates, ATM withdrawal rules, and locker rental regulations. Some of these changes have already been implemented, while others will take effect on April 1, 2026. These changes could impact millions of bank customers across the country.
1. Reduction in MCLR to make loans cheaper
HDFC Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 10 basis points. The new rates are effective from March 7, 2026. Following the reduction, the overnight and one-month MCLR has decreased from 8.25% to 8.15%. The three-month MCLR has decreased from 8.30% to 8.25%. The six-month and one-year rates have also decreased from 8.40% to 8.35%. The two-year MCLR has been reduced from 8.50% to 8.45%, and the three-year MCLR has been reduced from 8.60% to 8.55%. This change is likely to benefit customers whose loans are linked to the MCLR. They may get some relief in their EMIs.
2. Increased interest rate on FD
The bank has increased interest rates on FDs with certain maturity periods. The interest rate on FDs with maturity periods of 3 years 1 day to 4 years 7 months has been increased from 6.40% to 6.50%. For senior citizens, the interest rate on FDs with the same maturity period has been increased from 6.90% to 7%. Currently, the bank offers interest rates ranging from 2.75% to 6.50% for general customers and from 3.25% to 7% for senior citizens.
3. Changes in ATM withdrawal rules
HDFC Bank has also changed its ATM rules. Starting April 1, 2026, ATM cash withdrawals using UPI will be included in the monthly free transaction limit. If customers exceed the free transaction limit, they will be charged Rs 23 plus tax for each additional transaction.
4. Locker charges will also increase
The bank has also decided to revise the rents for safe deposit lockers. The new rates will be effective from April 1, 2026. The bank has also introduced a new category called Metro Plus. Under the new system, locker rents will be determined based on the locker size and branch location. These categories will include Metro Plus, Metro, Urban, Semi-Urban, and Rural. Additionally, 18% GST will be applicable on locker rents.