HDFC Bank has announced a reduction in its marginal cost of funds-based lending rate (MCLR) across several tenures by 5 to 10 basis points, with the changes taking effect on September 7, 2026. The revised MCLR spectrum now falls within a range of 7.90% to 8.60% for borrowers with MCLR-linked loans.
The rate cut is set to benefit borrowers whose loans are linked to the bank’s MCLR benchmarks. The exact amount of relief will depend on the specific loan tenure and the borrower’s previous MCLR rate.
Key details at a glance
- New MCLR range across affected tenures: 7.90% to 8.60%.
- Overall reduction: 5–10 basis points on the impacted tenures.
- Effective date: September 7, 2026.
This move aligns with routine adjustments banks make to reflect changes in their cost of funds and the prevailing interest-rate environment. Borrowers with MCLR-linked loans should check their latest loan statements or consult their branch to confirm the exact revised rate applicable to their account.
