HDFC Bank has lowered its Marginal Cost of Funds-based Lending Rates (MCLR) on select tenures by up to 5 basis points (bps), which is great news for borrowers whose loans are linked to this regime. On the flip side, the bank has raised MCLR by 5 bps for one specific tenure. Just so you know, a basis point is one-hundredth of a percentage point. The revised HDFC Bank MCLR rates will be applicable from May 7, 2026, according to the information available on the bank's official website.
Following the revision, HDFC Bank's MCLR rates now range from 8.05% to 8.60%, depending on the loan tenure. Earlier, HDFC Bank's MCLR rates were in the range of 8.10% to 8.55%.
Latest HDFC lending rates
The bank has revised its MCLRs for certain tenors compared to the last rate adjustments on April 7, 2026. The overnight, one-month, three-month and six-month MCLR rates have all dropped by 5 basis points. Now, the overnight and one-month MCLRs are at 8.05%, down from 8.10%. The three-month rate has decreased to 8.15% from 8.20%. The six-month MCLR is down to 8.30% from 8.35%.
On the other hand, the one-year and two-year MCLR rates have remained unchanged at 8.35% and 8.45%, respectively. In contrast, the three-year MCLR has gone up by 5 basis points to 8.60% from 8.55%.
HDFC Bank MCLR rates (applicable from May 7, 2026)
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% |
