Lower EMIs ahead: Relief for HDFC Bank borrowers as lender cuts MCLR on certain tenures

HDFC Bank has reduced its Marginal Cost of Funds-based Lending Rates (MCLR), which will benefit borrowers whose loans are linked to this regime. The bank has lowered its MCLR rates by up to 5 basis points (bps) on select loan tenures. A basis point is one-hundredth of a percentage point. The revised HDFC MCLR rates will be applicable from January 7, 2026.

Following the revision, HDFC Bank's MCLR rates now range from 8.25% to 8.55%, depending on the loan tenure.

Latest HDFC MCLR rates

Overnight and one-month MCLRs have been reduced by 5 basis points each to 8.25% from 8.30%, while the three-month MCLR has been lowered to 8.30% from 8.35%. The six-month MCLR remains unchanged at 8.40%. The one-year MCLR has also been trimmed to 8.40% from 8.45%. On the other hand, two-year and three-year MCLRs continue to remain steady at 8.50% and 8.55%, respectively.


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Comparison of HDFC Bank MCLRs in December 2025 and January 2026

Tenure	MCLR (December 2025)	New MCLR – January 7, 2026
Overnight	8.30%	8.25%
One month	8.30%	8.25%
Three months	8.35%	8.30%
Six months	8.40%	8.40%
1 year	8.45%	8.40%
2 years	8.50%	8.50%
3 year	8.55%	8.55%
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What is MCLR?

The Marginal Cost of the Fund-Based Lending Rate or 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 Reserve Bank of India (RBI). The RBI introduced MCLR in 2016.

HDFC Bank base rate

The current HDFC Bank base rate is 8.90% effective from September 19, 2025.

Benchmark PLR
Effective September 19, 2025, HDFC Bank's benchmark PLR (BPLR) has been revised to 17.40% p.a.

What are HDFC Bank FD interest rates?

HDFC Bank offers fixed deposit interest rates between 2.75% and 6.45% to general citizens, while between 3.25% and 6.95% to senior citizens for amounts below Rs 3 crore. The highest interest rates of 6.45% and 6.95% for general and senior citizens are being offered on the FD tenure of 18 months to less than 3 years. These rates are effective from December 17, 2025.