HDFC Bank has decreased its Marginal Cost of Funds-based Lending rate (MCLR) on one loan tenure by 5 basis points (bps). After the revision, HDFC Bank MCLR will now range between 9.20% and 9.45%. The revised rates are applicable from March 7, 2025 onwards.
Latest HDFC Bank lending rates
The 2-year tenure MCLR has been decreased by 5 bps, from 9.45% to 9.40% with effect from March 7, 2025. The one-month MCLR has been kept unchanged at 9.20%, the three-month MCLR is also unchanged at 9.30%. The six-month and one-year MCLRs are unchanged at 9.40% and the two-year MCLR has been cut to 9.40%. The three-year MCLR is unchanged at 9.45%.
Also read: After RBI rate cut, check latest home loan interest rates of top banks for loans above Rs 75 lakh
| Tenor | MCLR |
| Overnight | 9.20% |
| 1 Month | 9.20% |
| 3 Month | 9.30% |
| 6 Month | 9.40% |
| 1 Year | 9.40% |
| 2 Year | 9.40% |
| 3 Year | 9.45% |
What is MCLR?
The Marginal Cost of the Fund-Based Lending Rate or the 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. The Reserve Bank of India (RBI) introduced the MCLR in 2016.
The MCLR affects the interest rates of all floating loans, including home loans, personal loans, and auto loans.
Also read: Now get home loan interest certificate for tax saving via DigiLocker for loans from this bank
HDFC Bank base rate
The revised Base Rate will be 9.45% and will be effective from Sep 09, 2024.
HDFC Bank Benchmark PLR
HDFC Bank Ltd.’s Benchmark PLR (BPLR) has been updated to 17.95% p.a. from September 09, 2024.
HDFC home loan
The home loan interest rates are linked to the Repo Rate and are variable throughout the tenor of the loan. Standard home loan rates for salaried and self-employed individuals range from 9.40% to 9.95%, while special rates for the same category range between 8.70% and 9.55% as on March 7, 2025. Note that all rates are benchmarked to Policy Repo Rate.
Current applicable Repo Rate = 6.25%
These rates are applicable to eligible borrowers who meet specific criteria set by the lender, such as a strong credit profile, stable income, and other preferential conditions.
| Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals) | |
| Loan Slab | Interest Rates (% p.a.) |
| For All Loans* | Policy Repo Rate + 2.45% to 3.30% = 8.70% to 9.55% |
| Standard Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals) | |
| Loan Slab | Interest Rates (% p.a.) |
| For All Loans* | Policy Repo Rate + 3.15% to 3.70% = 9.40% to 9.95% |
Source: HDFC website
