One basis point equals 0.01 percentage point.
Following the revision, HDFC Bank’s MCLR now ranges between 8.05% and 8.70%, compared with the earlier 8.10% to 8.65%.
HDFC Bank’s revised MCLR
The overnight MCLR has been lowered to 8.05% from 8.10%. In contrast, the one-year MCLR, widely used as the benchmark for several home loans—has been increased to 8.45% from 8.40%.
The three-year MCLR has also been revised upwards to 8.70%, from 8.65%. Rates for the one-month, three-month, six-month and two-year tenures remain unchanged at 8.05%, 8.20%, 8.35% and 8.55%, respectively.
Revised MCLR (effective July 7, 2026):
| 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 MCLR?
The Marginal Cost of Funds-based Lending Rate (MCLR) is the minimum lending rate that a financial institution can charge on a loan. It sets the lower threshold for loan interest rates unless otherwise specified by the Reserve Bank of India (RBI). The RBI introduced the MCLR framework in 2016.
HDFC Bank has revised its base rate to 8.70%, effective June 24, from the earlier 8.80%.
The bank has also reduced its Benchmark Prime Lending Rate (BPLR) to 17.20% per annum, effective June 24. Previously, the BPLR stood at 17.30% per annum.
HDFC Bank is offering fixed deposit (FD) interest rates ranging from 2.75% to 6.50% for general customers. Senior citizens can earn between 3.25% and 7.00%, depending on the deposit tenure.
| Tenure | 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 years 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% |
