Hello,

Guest!

HDFC MCLR Rate Today

HDFC MCLR rates range from 8.80% - 9.30% for different tenures. MCLR is the minimum interest rate a bank or financial institution can charge for a specific loan. These MCLR rates determine interest rates for different loans.

Updated:

MCLR Rate by Top Banks

The Marginal Cost of the Fund-Based Lending Rate (MCLR) is the minimum interest rate a bank or financial institution can charge for a specific loan. It determines the lower limit of the interest rate for a loan. 

Following are HDFC MCLR Rate and MCLR rates of top banks in India at present:

Bank NameOvernight1 Month3 Months6 Months1 Year2 Years3 Years
Bank of India8.00%8.25%8.40%8.60%8.80%NA9.00%
UCO Bank8.00%8.25%8.40%8.65%8.80%NANA
Yes Bank9.20%9.45%10.00%10.25%10.50%NANA
HDFC Bank8.80%8.80%9.00%9.20%9.25%9.25%9.30%
ICICI Bank8.60%8.60%8.65%9.00%9.10%NANA
SBI8.00%8.20%8.20%8.55%8.65%8.75%8.85%
PNB8.25%8.30%8.40%8.60%8.70%NA9.00%
PSB7.70%7.80%8.30%8.45%8.60%NANA
Axis Bank9.05%9.05%9.15%9.20%9.25%9.35%9.40%
Citibank6.50%6.55%6.75%7.00%6.95%NANA
IndusInd Bank9.05%9.10%9.45%9.85%10.15%10.20%10.20%
IDFC FIRST Bank9.50%9.50%9.75%10.10%10.25%NANA
Bank of Baroda8.05%8.30%8.40%8.60%8.80%NANA
Central Bank of India7.95%8.00%8.35%8.55%8.70%NANA
Federal Bank9.05%9.10%9.15%9.25%8.70%NA9.30%
IDBI Bank7.90%8.05%8.35%8.55%8.60%9.20%9.60%
Indian Overseas Bank8.00%8.20%8.40%8.65%8.80%8.80%8.85%
Canara Bank7.90%8.00%8.15%8.45%8.80% NANA 
Kotak Bank8.50%8.75%8.90%9.20%9.35%9.40%9.50%

You can also Apply for an HDFC Bank Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.

HDFC Home Loan Offer

MCLR Rate of HDFC Bank

MCLR HDFC Bank ranges from 8.80% - 9.30% for different tenures. HDFC is one the leading private banks in India that offers affordable financial products and services. Like all other banks in the country, HDFC has also revised its MCLR, which makes loans cheaper for customers. HDFC MCLR is the minimum interest rate the bank can charge for a specific loan. This rate limit is set for borrowers unless specified otherwise by the Reserve Bank of India (RBI).

HDFC Bank revises its MCLR monthly. Below are the current MCLR of HDFC Bank:

  • Overnight: 8.80% 
  • 1 Month: 8.80%
  • 3 Months: 9.00%
  • 6 Months: 9.20%
  • 1 Year: 9.20%
  • 2 Years: 9.25%
  • 3 Years: 9.30%

HDFC Bank MCLR Rate Trend

Below is the MCLR Rate of HDFC Bank trend in the year 2024: 

Last MCLR Updated Date TenureMCLR
10 Jan 2024Overnight 8.80%
1 Month 8.80%
3 Months9.00%
6 Months9.20%
1 Year9.25%
2 Years9.25%
3 Years9.30%
10 July 2023Overnight 8.25%
1 Month 8.30%
3 Months8.60%
6 Months8.90%
1 Year9.05%
2 Years9.10%
3 Years9.25%
10 April 2023Overnight 7.80%
1 Month 7.95%
3 Months8.30%
6 Months8.70%
1 Year8.95%
2 Years9.05%
3 Years9.15%
7 March 2023Overnight 8.65%
1 Month 8.65%
3 Months8.70%
6 Months8.80%
1 Year8.95%
2 Years9.05%
3 Years9.15%
7 November 2022Overnight 8.20%
1 Month 8.25%
3 Months8.30%
6 Months8.40%
1 Year8.55%
2 Years8.65%
3 Years8.75%
08 August 2022Overnight 7.80%
1 Month 7.80%
3 Months7.85%
6 Months7.95%
1 Year8.10%
2 Years8.20%
3 Years8.30%
07 May 2022Overnight 7.50%
1 Month 7.55%
3 Months7.60%
6 Months7.70%
1 Year7.85%
2 Years7.95%
3 Years8.05%
07 April 2022Overnight 6.90%
1 Month 6.95%
3 Months7%
6 Months7.10%
1 Year7.25%
2 Years7.35%
3 Years7.45%
07 February 2022Overnight 6.85%
1 Month 6.90%
3 Months6.95%
6 Months7.05%
1 Year7.20%
2 Years7.30%
3 Years7.40%
07 January 2022Overnight 6.85%
1 Month 6.90%
3 Months6.95%
6 Months7.05%
1 Year7.20%
2 Years7.30%
3 Years7.40%

HDFC Home Loan Interest Rate & MCLR

  • Currently, HDFC Bank MCLR rate ranges from 8.80% - 9.30% for different tenures. 
  • All the floating rates sanctioned by the bank to the MCLR rate for a specific tenure.
  • Loans with shorter tenures (like overnight loans, cash credit, etc.) are linked to shorter duration MCLR, whereas loans with longer durations ( like home loans, vehicle loans, loans against property, etc.) are linked to longer duration MCLR.
  • Applicable interest rate on floating rate-based home loans will have two parts, i.e. the margin on a spread above the benchmark and the applicable benchmark rate.
  • The bank charges home loan interest rates based on the retail prime lending rate (RPLR), which is 17.85% at present.

HDFC 1 Year MCLR Rate

Currently, the HDFC 1 Year MCLR Rate is 9.25% effective from Jan 8, 2024. The MCLR rates of the bank are updated every month. Even a slight change in MCLR may have a significant impact on your HDFC Home Loan or other lending products offered by the bank. Hence, you must check the updated MCLR rates every month. A change in MCLR can reduce or increase your loan Equated Monthly Instalments (EMIs) as well.

HDFC Bank MCLR Rate History

There has been a significant fluctuation in the MCLR rates of HDFC Bank this year. Following is the HDFC Bank MCLR rate history for the year 2024:

Last MCLR Updated Date MCLR
8.01.20248.80% - 9.30%
10.07.20238.25% - 9.25%
10.04.20237.80% - 9.15%
7.03.20238.65% - 9.15%
7.11.20228.20% - 8.75%
08.08.20227.80% - 8.30%
07.05.20227.50% - 8.05%
07.04.20226.90% - 7.45%
07.02.20226.85% - 7.40%
07.01.20226.85% - 7.40%

HDFC MCLR Rate FAQs

What is the MCLR of HDFC Bank?

image
Bank NameOvernight1 Month3 Months6 Months1 Year2 Years3 Years
HDFC Bank8.80%8.80%9%9.20%9.25%9.25%9.30%

What is the current HDFC Bank MCLR rate?

image

Currently, the MCLR Rate of HDFC Bank ranges from 8.80% - 9.30% for different tenures.

What is HDFC Bank Base Rate?

image

Currently, the HDFC Bank Base Rate is 9.35%.

What is the Difference Between Base Rate and MCLR?

image

Base Rate is based on the average cost of funds, whereas MCLR is based on the incremental/marginal cost of funds. The calculation of the Base Rate is done by considering profit margin/ minimum rate of return, and MCLR is calculated considering tenure premium.