HDFC Bank lending rates after RBI announcement: Has bank changed MCLR rates for some of its 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 5 basis points (bps) on select loan tenures. A basis point is one-hundredth of a percentage point. The revised HDFC Bank MCLR rates will be applicable from February 7, 2026.

Following the revision, HDFC Bank's MCLR rates now range from 8.25% to 8.60%, depending on the loan tenure. Earlier, HDFC Bank's MCLR rates were from 8.25% to 8.55%, depending on the loan tenure.

RBI’s decision on repo rate

The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.25% at the end of its three-day Monetary Policy Committee (MPC) meeting on February 6, 2026. This pause came after the central bank cut the repo rate by 25 bps in its meeting in December 2025.

Latest HDFC MCLR rates

The bank has reduced MCLR on its three-year tenure by 5 bps. The bank, however, didn't change MCLRs on its other tenures. Overnight and one-month MCLRs are at 8.25% each, while the three-month MCLR is at 8.30%. The six-month and one-year MCLRs are at 8.40% each. The two-year MCLR continues to remain steady at 8.50%. However, the bank has reduced the three-year MCLR by 5 bps to 8.50% from 8.55%. This change will benefit borrowers with loans linked to this tenure.

Tenor	MCLR
Overnight	8.25%
1 Month	8.25%
3 Month	8.30%
6 Month	8.40%
1 Year	8.40%
2 Year	8.50%
3 Year	8.60%

HDFC Bank MCLR comparison table: January vs February

Tenor	January MCLR	February MCLR	Change
Overnight	8.25%	8.25%	No change
1 Month	8.25%	8.25%	No change
3 Month	8.30%	8.30%	No change
6 Month	8.40%	8.40%	No change
1 Year	8.40%	8.40%	No change
2 Year	8.50%	8.50%	No change
3 Year	8.55%	8.60%	0.05%

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 RBI. The RBI introduced MCLR in 2016.

HDFC Bank base rate

The current HDFC Bank base rate is 8.80% effective from December 26, 2025

HDFC Bank benchmark PLR

Effective December 26, 2025, HDFC Bank's benchmark PLR (BPLR) is 17.30% 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.