The bank’s overnight MCLR has been reduced to 7.80% from 7.90%, while the one-month rate has been cut to 7.75% from 7.90%. The three-month MCLR now stands at 7.95%, down from 8.05%.
For longer tenures, the six-month MCLR has been reduced to 8.15% from 8.25%, while the one-year rate is now 8.30% against 8.35% earlier. The two-year and three-year MCLRs have been cut to 8.40% and 8.55%, respectively, from 8.45% and 8.60%.
HDFC Bank MCLR rates from October 7
- Overnight: 7.80%
- 1 month: 7.75%
- 3 months: 7.95%
- 6 months: 8.15%
- 1 year: 8.30%
- 2 years: 8.40%
- 3 years: 8.55%
The impact of the revision will depend on whether a borrower’s loan is linked to MCLR and the reset period specified in the loan agreement. A change in MCLR does not automatically mean the same change in the interest rate for every borrower, as the final lending rate also depends on the applicable spread and other loan terms.Borrowers with loans linked to an external benchmark, such as the RBI repo rate, should note that these MCLR revisions do not directly determine their lending rates. HDFC Bank states that its external benchmark-linked rates are based on the RBI policy repo rate and government securities yields.
First Published: Oct 7, 2026 3:34 PM IST