HDFC Bank Adjusts MCLR Rates: Overnight Down, Longer Tenors Up

HDFC Bank has adjusted its MCLR rates, with changes effective July seventh, 2026. The overnight MCLR decreased by five basis points, while longer tenors saw increases. One-year and three-year MCLRs rose by five basis points each.

HDFC Bank has revised its Marginal Cost of Funds-based Lending Rate (MCLR), with the new rates coming into effect on July 7, 2026. While the bank has lowered the overnight MCLR by 5 basis points (bps), it has increased the one-year and three-year MCLRs by the same margin. A basis point is one-hundredth of a percentage point. Revised HDFC Bank MCLR rates will be applicable from July 7, 2026, according to information available on HDFC Bank's official website.

HDFC Bank's MCLR rates now range from 8.05% to 8.70%, depending on the loan tenure. Earlier, HDFC Bank's MCLR rates were in the range of 8.10% to 8.65%.

HDFC Bank MCLR rates (applicable from July 7, 2026)

HDFC Bank’s overnight MCLR has been reduced by 5 basis points, from 8.10% to 8.05%. Meanwhile, the one-year MCLR, which serves as the benchmark for many home loans, has been increased by 5 basis points, from 8.40% to 8.45%.

The three-year MCLR has also been raised by 5 basis points, from 8.65% to 8.70%. The one-month, three-month, six-month, and two-year MCLRs remain unchanged at 8.05%, 8.20%, 8.35%, and 8.55%, respectively.

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Overnight: 8.05%

1 month: 8.05%

3 month: 8.20%

6 month: 8.35%

1 year: 8.45%

2 year: 8.55%

3 year: 8.70%

Comparing loan rates

Tenor

8-Jun-26 7-Jul-26 Change Overnight 8.10% 8.05% 0.05% 1 Month 8.05% 8.05% No change 3 Month 8.20% 8.20% No change 6 Month 8.35% 8.35% No change 1 Year 8.40% 8.45% 0.05% 2 Year 8.55% 8.55% No change 3 Year 8.65% 8.70% 0.05%

What is the MCLR?

The MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. It dictates the lower limit of the interest rate for a loan. This rate limit is set in stone for borrowers unless specified otherwise by the RBI. The RBI introduced MCLR in 2016.

HDFC Bank base rate

HDFC Bank has revised its base rate to 8.70%, effective June 24, 2026. Earlier, the bank's base rate stood at 8.80%.

HDFC Bank benchmark PLR

Effective June 24, 2026, HDFC Bank revised its Benchmark Prime Lending Rate (BPLR) to 17.20% per annum. Earlier, the bank's BPLR was 17.30% per annum.

HDFC Bank’s latest FD interest rates

The bank is offering FD interest rates from 2.75% to 6.50% to general customers and from 3.25% to 7% to senior citizens.

Interest Rate (per annum) **Senior Citizen Rates (per annum) 7 - 14 days 2.75% 3.25% 15-29 days 2.75% 3.25% 30-45 days 3.25% 3.75% 46-60 days 4.25% 4.75% 61-89 days 4.25% 4.75% 90 days <= 6 months 4.25% 4.75% 6 months 1 day <=9 months 5.50% 6.00% 9 months 1 day to < 1 Year 5.75% 6.25% 1 Year to < 15 months 6.25% 6.75% 15 months to < 18 months 6.35% 6.85% 18 months to < 21 months 6.45% 6.95% 21 months to 2 years 6.45% 6.95% 2 Years 1 day to < 2 Year 11 Months 6.45% 6.95% 2 Years 11 Months (35 months) 6.45% 6.95% 2 Years 11 Months 1 day <= 3 Year 6.45% 6.95% 3 Years 1 day to < 4 Years 7 Months 6.50% 7.00% 4 Year 7 Months (55 months) 6.40% 6.90% 4 Year 7 Months 1 day <=5 Years 6.40% 6.90% 5 Years 1 day to 10 Years 6.15% 6.65%

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