HDFC Bank has trimmed its Marginal Cost of Funds-based Lending Rates (MCLR) on select tenures by up to 10 basis points (bps), which will give relief to borrowers whose loans are linked to this regime.
A basis point is one-hundredth of a percentage point. The revised HDFC Bank MCLR rates will be applicable from September 7, 2026, according to the information available on the bank's official website.
Following the revision, HDFC Bank's MCLR rates now range from 7.90% to 8.60%, depending on the loan tenure.
Earlier, HDFC Bank's MCLR rates ranged from 8% to 8.65%, depending on the loan tenure.
HDFC Bank lending rates (MCLR) in September 2026
HDFC Bank has reduced its overnight MCLR to 7.90% from 8.00%. The lender has also trimmed the 1-month MCLR to 7.90%, from 8.00%.
For the 3-month tenure, HDFC Bank has reduced the MCLR to 8.05% compared with 8.15% earlier. The bank has cut the 6-month MCLR to 8.25% from 8.30%. The 1-year MCLR was cut to 8.35% from 8.40%. For the 2-year tenure, the MCLR has been reduced to 8.45% from 8.55%. The 3-year MCLR was reduced to 8.60% from 8.65%.
Overall, HDFC Bank reduced its MCLR by 0.05 to 0.10 percentage point across all the listed tenures in September 2026.
HDFC Bank’s September 2026 MCLR
Overnight: 7.90%
1 Month: 7.90%
3 Month: 8.05%
6 Month: 8.25%
1 Year: 8.35%
2 Year: 8.45%
3 Year: 8.60%
HDFC Bank MCLR rates in August
Overnight: 8.00%
1 Month: 8.00%
3 Month: 8.15%
6 Month: 8.30%
1 Year: 8.40%
2 Year: 8.55%
3 Year: 8.65%
| Tenure | September 2026 | August 2026 | Change |
| Overnight | 7.90% | 8.00% | 0.10% |
| 1 Month | 7.90% | 8.00% | 0.10% |
| 3 Month | 8.05% | 8.15% | 0.10% |
| 6 Month | 8.25% | 8.30% | 0.05% |
| 1 Year | 8.35% | 8.40% | 0.05% |
| 2 Year | 8.45% | 8.55% | 0.10% |
| 3 Year | 8.60% | 8.65% | 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’s current base rate stands at 8.70%. The rate is applicable from June 24, 2026.
HDFC Bank benchmark PLR
Effective June 24, 2026, HDFC Bank’s Benchmark Prime Lending Rate (BPLR) is 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.
