HDFC MCLR Rate

HDFC MCLR rates range from 9.10% - 9.45% 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.

  • Top Banks
  • MCLR Rate
  • Interest Rate & MCLR
  • 1 Year MCLR Rate
  • MCLR Rate History

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
HDFC Bank9.10%9.15%9.25%9.40%9.45%9.45%9.45%
Canara Bank8.25%8.35%8.45%8.80%9.00%9.30%9.40
Axis Bank9.15%9.15%9.25%9.30%9.35%9.45%9.50%
Yes Bank9.10%9.45%10.10%10.35%10.50%NANA
ICICI Bank8.60%8.60%8.65%9.00%9.10%NANA
SBI8.20%8.45%8.50%8.85%8.95%9.05%9.10%
PNB8.30%8.35%8.55%8.75%8.90%NA9.20%
PSB8.20%8.45%8.55%8.85%9.10%NANA
Citibank6.65%6.90%6.95%7.00%6.95%NANA
Bank of Baroda8.15%8.35%8.50%8.75%8.95%NANA
IndusInd Bank10.20%10.25%10.40%10.55%10.55%10.55%10.55%
IDFC FIRST Bank10.20%10.20%10.40%10.60%10.70%NANA
Bank of India8.15%8.40%8.55%8.75%8.95%NA9.10%
Central Bank of India8.10%8.15%8.50%8.70%8.85%NANA
Federal Bank9.45%9.50%9.55%9.65%9.70%NANA
IDBI Bank8.40%8.55%8.85%9.10%9.15%9.70%10.10%
Indian Overseas Bank8.20%8.45%8.60%8.85%8.95%9.00%9.15%
UCO Bank8.20%8.35%8.50%8.80%8.95%NANA
Kotak Bank8.75%9.00%9.15%9.40%9.55%9.55%9.65%
HSBC Bank8.30%8.45%8.60%8.70%8.75%NANA

MCLR Rate of HDFC Bank

MCLR Rate HDFC Bank ranges from 9.10% - 9.45% for different tenures. HDFC is one of 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: 9.10% 
  • 1 Month: 9.15%
  • 3 Months: 9.25%
  • 6 Months: 9.40%
  • 1 Year: 9.45%
  • 2 Years: 9.45%
  • 3 Years: 9.45%

Home Loan Lowest Interest rates

HDFC Home Loan Interest Rate & MCLR

  • Currently, the MCLR rate HDFC Bank ranges from 9.10% - 9.45% 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 the best 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 9.45% effective from August 7, 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 HDFC Bank this year. Following is the HDFC Bank MCLR History for the year 2024:

Last MCLR Updated Date MCLR
07.08.20249.05% - 9.40%
07.07.20249.05% - 9.40%
07.03.20248.95% - 9.35%
07.02.20248.90% - 9.35%
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

Currently, the MCLR Rate of HDFC Bank ranges from 9.10% - 9.45% for different tenures.

Currently, the HDFC Bank Base Rate is 9.40%.

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.

Currently, Canara Bank has the lowest MCLR Rate 8.35% - 9.45% Today.

Repo Rate is the rate at which RBI lends money to banks and Reverse Repo Rate is the rate at which RBI borrows money from banks.

HDFC 7.75 interest rate means you will get the preferred HDFC lending product at 7.75% interest rate per annum.

The interest rate can vary for all lending products of all lenders based on various eligibility factors. To know the accurate interest rate, you must contact or visit the preferred lender.

The interest rate can vary for different products offered by lenders based on various eligibility factors. To know the actual interest rate, you must contact or visit the preferred lender.

Updated On Jun 5, 2025
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