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Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →HDFC Bank’s latest listed MCLR rates are lower by 5–10 basis points, not up to 15 bps. The bank’s rate page shows the revised rates effective September 7, 2026. The cut may affect borrowers only if their loans are linked to MCLR, and when their loan’s reset terms take effect.
HDFC Bank MCLR rates effective September 7, 2026
HDFC Bank’s official interest-rates page lists the following MCLR rates effective September 7, 2026. The previous rates and the size of each reduction are reported by The Economic Times.
| MCLR tenure | Previous rate | Rate effective September 7, 2026 | Reported cut |
|---|---|---|---|
| Overnight | 8.00% | 7.90% | 10 bps |
| 1 month | 8.00% | 7.90% | 10 bps |
| 3 months | 8.15% | 8.05% | 10 bps |
| 6 months | 8.30% | 8.25% | 5 bps |
| 1 year | 8.40% | 8.35% | 5 bps |
| 2 years | 8.55% | 8.45% | 10 bps |
| 3 years | 8.65% | 8.60% | 5 bps |
The current figures are listed by HDFC Bank; the previous rates and reductions are as reported by The Economic Times. A basis point (bps) is one-hundredth of a percentage point: for example, a 10 bps cut is a 0.10 percentage-point reduction.
Does the MCLR cut affect your HDFC Bank loan?
Not necessarily. The revision is relevant to loans linked to MCLR; it does not mean every HDFC Bank borrower will receive a lower interest rate or an immediate EMI reduction. HDFC Bank also identifies the RBI Policy Repo Rate and Government of India Treasury Yield published by Financial Benchmarks India Ltd as external benchmarks for pricing loans. MCLR and external-benchmark loans are different, so a change to the MCLR table should not be assumed to change the rate on a loan linked to another benchmark.
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Check your benchmark and reset terms
- Look in your loan agreement or loan account documents for the benchmark used to set your interest rate. Confirm whether it is MCLR or an external benchmark.
- If your loan is MCLR-linked, check the reset date and rate-reset terms in your agreement. The cut’s effect depends on those terms; it may not apply to your loan immediately.
- Use your loan statement or contact HDFC Bank if the benchmark or next reset date is unclear. Check the revised rate after the applicable reset before assuming your EMI has changed.
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