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HDFC Bank MCLR Rate Today

HDFC MCLR rates range from 9.05% - 9.40% 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
HDFC Bank8.95%9.00%9.15%9.30%9.30%9.30%9.35%
HSBC Bank8.50%8.65%8.80%8.90%8.95%NANA
ICICI Bank8.60%8.60%8.65%9.00%9.10%NANA
Bank of India8.10%8.40%8.50%8.70%8.90%NA9.10%
Axis Bank9.10%9.10%9.20%9.25%9.30%9.40%9.45%
Yes Bank9.20%9.55%10.20%10.45%10.60%NANA
SBI8.00%8.20%8.20%8.55%8.65%8.75%8.85%
PNB8.25%8.30%8.50%8.70%8.85%NA9.15%
PSB8.10%8.35%8.50%8.80%8.95%NANA
Citibank7.05%7.30%7.30%7.40%7.25%NANA
Bank of Baroda8.10%8.30%8.45%8.65%8.85%NANA
IndusInd Bank10.10%10.15%10.30%10.45%10.45%10.50%10.50%
IDFC FIRST Bank9.80%9.80%10.00%10.30%10.45%NANA
Central Bank of India8.00%8.05%8.40%8.60%8.75%NANA
Federal Bank9.45%9.50%9.55%9.65%9.70%NANA
IDBI Bank8.35%8.50%8.80%9.00%9.05%9.60%10.00%
Indian Overseas Bank8.00%8.25%8.45%8.70%8.85%8.85%8.95%
UCO Bank8.10%8.30%8.45%8.70%8.85%NANA
Canara Bank7.95%8.05%8.15%8.50%8.90%NANA
Kotak Bank8.65%8.90%9.05%9.30%9.45%9.50%9.60%

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

MCLR Rate of HDFC Bank

MCLR Rate HDFC Bank ranges from 9.05% - 9.40% 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: 8.95% 
  • 1 Month: 9.00%
  • 3 Months: 9.15%
  • 6 Months: 9.30%
  • 1 Year: 9.30%
  • 2 Years: 9.30%
  • 3 Years: 9.35%

HDFC Bank MCLR Rate Trend

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

Last MCLR Updated Date TenureMCLR
7 June 2024Overnight8.95%
1 Month 9.00%
3 Months9.15%
6 Months9.30%
1 Year9.30%
2 Years9.30%
3 Years9.35%
7 Mar 2024Overnight 8.95%
1 Month 8.95%
3 Months9.15%
6 Months9.30%
1 Year9.30%
2 Years9.35%
3 Years9.35%
7 Feb 2024Overnight 8.90%
1 Month 8.95%
3 Months9.10%
6 Months9.30%
1 Year9.30%
2 Years9.35%
3 Years9.35%
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, the MCLR rate HDFC Bank ranges from 9.05% - 9.40% 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 9.30% effective from June 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
07.03.20248.95% - 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

What is the interest rate of MCLR in HDFC Bank?

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Overnight - 8.95%

1 Month - 8.95%

3 Months - 9.15%

6 Months - 9.30%

1 Year - 9.30%

2 Years - 9.35%

3 Years - 9.35%

What is current MCLR Rate?

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Currently, the MCLR Rate of HDFC Bank ranges from 9.05% - 9.40% for different tenures.

What is HDFC Bank Base Rate?

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Currently, the HDFC Bank Base Rate is 9.45%.

Which is better MCLR or Base Rate?

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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.

Which Bank has lowest MCLR rate?

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Currently, Canara Bank has the lowest MCLR Rate 7.95% - 8.90% Today.

What is Repo Rate and Reverse Repo Rate?

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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.

What is HDFC 7.75 interest rate?

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

Which bank interest rate is high?

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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.

What is the rate of MCLR in RBI?

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The current MCLR fixed by the RBI stands in the range of 8% to 8.60%.

Which bank gives highest interest?

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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.

What is repo rate full?

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The full form of the repo rate is Repurchase Rate. It is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks in exchange for securities.