Private sector lender HDFC Bank has revised its marginal cost of funds-based lending rates (MCLR), increasing them by up to 10 basis points across different tenors. The revised rates came into effect on Monday, June 8, 2026.
The MCLR hike decision comes days after the central bank on Friday kept interest rates unchanged at 5.25% for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the .
What is MCLR?
Marginal cost of funds-based lending rate is the internal benchmark set by banks to determine minimum lending rates, as mandated by the Reserve Bank of India (RBI). Introduced in April 2016, MCLR replaced the older base rate system with an aim to make interest rate transmission more transparent and market-linked.
In simple terms, MCLR refers to the minimum interest rate that a lender must charge for loans. Any hike in these rates is likely increase EMI for borrowers, though the impact is not immediate. For instance, if your loan is tied to a 1-year MCLR, the revised rate will take effect only on the next reset date of your loan.
What changed for HDFC users
After the latest revision, lending rates now range from 8.05% to 8.65%, based on the tenure of the loan. Earlier, HDFC Bank’s MCLR rates were in the range of 8.05% to 8.60%.
The maximum hike of 10 basis points was for loans having a maturity of two years to 8.55% from the earlier 8.45% rate of interest.
The benchmark one-year MCLR has been revised up by 5 basis points to 8.40%, as per the data available on the website. The one-year rate is used to fix most consumer loans, such as auto, personal and home loans.
The overnight, three-month, six-month and three-year tenor MCLRs have been raised by 5 basis points to 8.10 per cent, 8.20 per cent, 8.35 per cent and 8.65 per cent, respectively.
The only tenure that remained unchanged is the 1-month MCLR, which remains at 8.05%.
The latest revision comes a month after HDFC Bank lowered its overnight, one-month, three-month and six-month MCLR rates. At the time, the overnight and one-month MCLRs were cut to 8.05% from 8.10%, three-month rate was decreased to 8.15% from 8.20%, while the six-month MCLR stood at 8.30%.
HDFC MCLR
| Tenor | Revised MCLR | Previous MCLR |
|---|---|---|
| Overnight | 8.10% | 8.05% |
| 1 month | 8.05% | 8.05% |
| 3 month | 8.20% | 8.15% |
| 6 month | 8.35% | 8.30% |
| 1 year | 8.40% | 8.35% |
| 2 year | 8.55% | 8.45% |
| 3 year | 8.65% | 8.60% |
HDFC Bank’s latest base, PLR and FD rates
HDFC Bank’s base rate stands at 8.80%, effective since December 26, 2025.
The bank’s benchmark prime lending rate (BPLR) is 17.30% per annum, also effective from December 26, 2025.
For , HDFC Bank offers interest rates ranging from 2.75% to 6.50% for general customers and 3.25% to 7.00% for senior citizens, depending on the deposit tenure.