Hello,
Guest!
Axis Bank Kwik Rupay Credit Card
Axis Bank MY ZONE Credit Card
Axis Bank SELECT Credit Card
IndianOil Axis Bank Credit Card
Axis Bank Magnus Credit Card
Flipkart Axis Bank Credit Card
Axis Bank Vistara Credit Card
Axis Bank Rewards Credit Card
Axis Bank Vistara Infinite Credit Card
Axis Bank Neo Credit Card
Samsung Axis Bank Signature Credit Card
Axis Bank Aura Credit Card
Axis Bank Vistara Signature Credit Card
Axis Bank Privilege Credit Card
Samsung Axis Bank Infinite Credit Card
Axis Bank Reserve Credit Card
Axis Bank Airtel Credit Card
Axis Bank Insta Easy Credit Card
Axis Bank Freecharge Credit Card
Axis Bank Forex Card
Axis Bank Rupay Credit Card
Axis Bank Burgundy Private Credit Card
Axis Bank Credit Card Interest Rates
Axis Bank Credit Card Pin Generation
Axis Bank Credit Card Offers
Axis Bank Credit Card Types
HDFC Freedom Credit Card
HDFC Indian Oil Credit Card
HDFC MoneyBack Credit Card
HDFC Infinia Credit Card
HDFC Diners Club Black Credit Card
HDFC Swiggy Credit Card
HDFC Regalia Credit Card
HDFC Millennia Credit Card
HDFC Business MoneyBack Credit Card
HDFC Regalia Gold Credit Card
HDFC Regalia First Credit Card
HDFC UPI Rupay Credit Card
Paytm HDFC Bank Credit Card
HDFC MoneyBack+ Credit Card
Tata Neu Plus HDFC Bank Credit Card
Shoppers Stop HDFC Bank Credit Card
Flipkart Wholesale HDFC Bank Credit Card
6E Rewards IndiGo Credit Card
HDFC Times Platinum Credit Card
HDFC Bank Corporate Platinum Credit Card
HDFC Rupay Credit Cards
HDFC Forex Cards
HDFC Virtual Credit Card
Best HDFC Credit Cards
Standard Chartered Smart Credit Card
Standard Chartered Manhattan Platinum Credit Card
Standard Chartered Platinum Rewards Credit Card
Standard Chartered EaseMyTrip Credit Card
Standard Chartered Credit Card Login
Standard Chartered Credit Card Customer Care
Standard Chartered Credit Card Bill Payment
Standard Chartered Bank Credit Card Statement
HDFC Personal Loan
IDFC First Bank Personal Loan
Moneyview Personal Loan
Prefr Loan
Kreditbee Loan
SmartCoin Loan
Kotak Personal Loan
Bajaj Finserv Personal Loan
Tata capital Personal Loan
Yes Bank Personal Loan
L&T Finance Consumer Loan
Instant Loan Apps
Instant Loan Without Cibil
Lowest Personal Loan Interest Rates
Cashe Loan
KreditBee Business Loan
Moneyview Business Loan
Prefr Credit Business Loan
LendingKart Business Loan
Protium Business Loan
IIFL Business Loan
SBI Business Loan
Bank Of Baroda Business Loan
Kotak Business Loan
ICICI Bank Business Loan
Bajaj Finserv Business Loan
HDFC Bank Business Loan
NeoGrowth Business Loan
Women Business Loans
Unsecured Business Loans
Working Capital Loan
CGTMSE Scheme
MSME Loan
PSB Loans in 59 Minutes
SBI E Mudra Loan
PMEGP Loan
Mudra Loan
Startup Business Loan
Saksham Yuva Yojana
Bank of Baroda MSME Loan
MUDRA Loan Eligibility
Loan Against Property Interest Rate
HDFC Loan Against Property
Federal Bank Loan Against Property
Kotak Loan Against Property
IDFC First Loan Against Property
SBI Loan Against Property
Home First Loan Against Property
PNB Housing Loan Against Property
Bajaj Finance Loan Against Property
Loan Against Property without Income Proof
SBI Loan Against Property Interest Rates
Loan Against Property Eligibility
Bank of Baroda Loan Against Property
Canara Bank Loan Against Property
LIC Loan Against Property
Blog
HDFC Credit Card Customer Care
Axis Bank Credit Card Customer Care Number
SBI Credit Card Customer Care
AU Bank Credit Card Customer Care Number
American Express Credit Card Customer Care
Standard Chartered Credit Card Customer Care Number
Yes Bank Credit Card Customer Care
IDFC Credit Card Customer Care Number
HSBC Credit Card Customer Care
Bajaj Finance Personal Loan Customer Care
SBI Personal Loan Customer Care
Indiabulls Personal Loan Customer Care
Kotak Bank Personal Loan Customer Care
HDFC Personal Loan Customer Care
MoneyTap Customer Care
Money View Customer Care
Mpokket Loan Customer Care
Cashe Customer Care
HDB Personal Loan Customer Care
IIFL Personal Loan Customer Care
HSBC MCLR Rate
HSBC Bank MCLR ranges from 8.45% to 8.90% w.e.f 1st April 2024 for different tenures. MCLR is the minimum rate of interest below which the bank cannot charge an interest rate for specific loans. HSBC revises its MCLR on the 1st of every month.
MCLR Rate by Top Banks
MCLR is the short form of the Marginal Cost of the Fund-Based Lending Rate. It is an internal reference rate determined by the Reserve Bank of India (RBI) for banks in India. This rate helps all banks determine the minimum rate of interest for their different types of loan products, including housing loans, personal loans, business loans, etc. MCLR is the least rate of interest below which banks cannot levy interest rates on their loan products, or else they will have to face strict regulatory action.
Following are current HSBC MCLR and MCLR rates of other top banks in India:
| Bank Name | Overnight | 1 Month | 3 Months | 6 Months | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| HSBC Bank | 8.45% | 8.60% | 8.75% | 8.85% | 8.90% | NA | NA |
| Axis Bank | 9.10% | 9.10% | 9.20% | 9.25% | 9.30% | 9.40% | 9.45% |
| Yes Bank | 9.30% | 9.55% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 8.90% | 8.95% | 9.10% | 9.30% | 9.30% | 9.35% | 9.35% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.00% | 8.20% | 8.20% | 8.55% | 8.65% | 8.75% | 8.85% |
| PNB | 8.30% | 8.35% | 8.45% | 8.65% | 8.80% | NA | 9.10% |
| PSB | 8.00% | 8.30% | 8.45% | 8.75% | 8.95% | NA | NA |
| Citibank | 7.05% | 7.10% | 7.25% | 7.30% | 7.20% | NA | NA |
| Bank of Baroda | 8.05% | 8.30% | 8.40% | 8.60% | 8.80% | NA | NA |
| IndusInd Bank | 10.00% | 10.05% | 10.20% | 10.35% | 10.40% | 10.40% | 10.40% |
| IDFC FIRST Bank | 9.60% | 9.60% | 9.85% | 10.20% | 10.35% | NA | NA |
| Bank of India | 8.10% | 8.35% | 8.45% | 8.65% | 8.85% | NA | 9.05% |
| Central Bank of India | 8.00% | 8.05% | 8.40% | 8.60% | 8.75% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.35% | 8.50% | 8.80% | 9.00% | 9.05% | 9.60% | 10.00% |
| Indian Overseas Bank | 8.00% | 8.20% | 8.40% | 8.65% | 8.80% | 8.80% | 8.85% |
| UCO Bank | 8.10% | 8.30% | 8.45% | 8.70% | 8.85% | NA | NA |
| Canara Bank | 7.90% | 8.00% | 8.15% | 8.45% | 8.90% | NA | NA |
| Kotak Bank | 8.65% | 8.90% | 9.05% | 9.30% | 9.45% | 9.50% | 9.60% |
You can also Apply for an HSBC Home Loan and check EMI, Interest rate and Eligibility Online to avail the offer.
Table of Contents: HSBC MCLR Rate[Show]
MCLR Rate of HSBC Bank
HSBC MCLR rate is competitive and currently varies between 8.45% to 8.90% for overnight to 1-year tenures with effect from 01 April 2024. These MCLRs will be valid till the next review of the bank, i.e. on 01 May 2024. HSBC is a reputed bank that offers a wide range of lending and banking products and services. The bank recently revised its MCLR, due to which its lending products.
HSBC fixes its MCLR every month every 1st. Below is the current MCLR rate HSBC levies with effect from 01.04.2024:
- Overnight: 8.45%
- 1 Month: 8.60%
- 3 Months: 8.75%
- 6 Months: 8.85%
- 1 Year: 8.90%
HSBC Bank MCLR Rate Trend
Below is the HSBC Bank MCLR rate trend till now:
| Last MCLR Updated Date | Tenure | MCLR |
|---|---|---|
| 01.04.2024 | Overnight | 8.45% |
| 1 Month | 8.60% | |
| 3 Months | 8.75% | |
| 6 Months | 8.85% | |
| 1 Year | 8.90% | |
| 01.03.2024 | Overnight | 8.60% |
| 1 Month | 8.75% | |
| 3 Months | 8.90% | |
| 6 Months | 9.00% | |
| 1 Year | 9.05% | |
| 01.01.2024 | Overnight | 8.50% |
| 1 Month | 8.65% | |
| 3 Months | 8.80% | |
| 6 Months | 8.90% | |
| 1 Year | 8.95% | |
| 01.05.2023 | Overnight | 8.30% |
| 1 Month | 8.45% | |
| 3 Months | 8.60% | |
| 6 Months | 8.70% | |
| 1 Year | 8.75% | |
| 01.02.2023 | Overnight | 8.20% |
| 1 Month | 8.35% | |
| 3 Months | 8.50% | |
| 6 Months | 8.60% | |
| 1 Year | 8.65% | |
| 01.01.2023 | Overnight | 8.15% |
| 1 Month | 8.30% | |
| 3 Months | 8.45% | |
| 6 Months | 8.55% | |
| 1 Year | 8.60% | |
| 01.12.2021 | Overnight | 6.75% |
| 1 Month | 6.75% | |
| 3 Months | 6.90% | |
| 6 Months | 7% | |
| 1 Year | 7.05% | |
| 01.09.2021 | Overnight | 6.90% |
| 1 Month | 6.90% | |
| 3 Months | 7.05% | |
| 6 Months | 7.15% | |
| 1 Year | 7.20% | |
| 01.01.2021 | Overnight | 7% |
| 1 Month | 7% | |
| 3 Months | 7.15% | |
| 6 Months | 7.25% | |
| 1 Year | 7.30% | |
| 01.11.2020 | Overnight | 7.10% |
| 1 Month | 7.10% | |
| 3 Months | 7.25% | |
| 6 Months | 7.35% | |
| 1 Year | 7.40% | |
| 01.09.2020 | Overnight | 7.20% |
| 1 Month | 7.20% | |
| 3 Months | 7.35% | |
| 6 Months | 7.45% | |
| 1 Year | 7.50% | |
| 01.05.2020 | Overnight | 7.60% |
| 1 Month | 7.60% | |
| 3 Months | 7.75% | |
| 6 Months | 7.85% | |
| 1 Year | 7.90% | |
| 01.01.2020 | Overnight | 7.95% |
| 1 Month | 7.95% | |
| 3 Months | 8.10% | |
| 6 Months | 8.20% | |
| 1 Year | 8.30% | |
| 01.09.2019 | Overnight | 8.15% |
| 1 Month | 8.15% | |
| 3 Months | 8.30% | |
| 6 Months | 8.40% | |
| 1 Year | 8.50% | |
| 01.05.2019 | Overnight | 8.30% |
| 1 Month | 8.30% | |
| 3 Months | 8.50% | |
| 6 Months | 8.75% | |
| 1 Year | 8.90% | |
| 01.01.2019 | Overnight | 8.20% |
| 1 Month | 8.20% | |
| 3 Months | 8.50% | |
| 6 Months | 8.75% | |
| 1 Year | 8.90% | |
| 01.09.2018 | Overnight | 8.10% |
| 1 Month | 8.10% | |
| 3 Months | 8.35% | |
| 6 Months | 8.55% | |
| 1 Year | 8.80% | |
| 01.05.2018 | Overnight | 8% |
| 1 Month | 8% | |
| 3 Months | 8.35% | |
| 6 Months | 8.60% | |
| 1 Year | 8.60% | |
| 01.01.2018 | Overnight | 7.80% |
| 1 Month | 7.80% | |
| 3 Months | 7.90% | |
| 6 Months | 8.10% | |
| 1 Year | 8.15% | |
| 01.09.2017 | Overnight | 7.80% |
| 1 Month | 7.80% | |
| 3 Months | 7.90% | |
| 6 Months | 8.05% | |
| 1 Year | 8.05% | |
| 01.05.2017 | Overnight | 7.60% |
| 1 Month | 7.60% | |
| 3 Months | 7.70% | |
| 6 Months | 7.90% | |
| 1 Year | 7.85% | |
| 01.01.2017 | Overnight | 7.90% |
| 1 Month | 7.90% | |
| 3 Months | 7.90% | |
| 6 Months | 8.10% | |
| 1 Year | 8.10% | |
| 01.09.2016 | Overnight | 8.30% |
| 1 Month | 8.30% | |
| 3 Months | 8.40% | |
| 6 Months | 8.45% | |
| 1 Year | 8.40% | |
| 01.06.2016 | Overnight | 8.50% |
| 1 Month | 8.50% | |
| 3 Months | 8.60% | |
| 6 Months | 8.60% | |
| 1 Year | 8.40% |
HSBC Bank Home Loan Interest Rate & MCLR
The current MCLR of HSBC Bank with effect from 01st April 2024 are mentioned below:
| Tenure | HSBC Bank MCLR |
|---|---|
| Overnight | 8.45% |
| 1 Month | 8.60% |
| 3 Months | 8.75% |
| 6 Months | 8.85% |
| 1 Year | 8.90% |
The current HSBC home loan interest rates starts from 8.45% p.a. for salaried individuals, 8.85% p.a. for self-employed individuals, and 8.20% for balance transfer cases. Even a slight change in the MCLR can affect your HSBC Bank home loan interest rate and the EMI to be paid each month.
1 Year MCLR of HSBC Bank
HSBC Bank India MCLR rate of 1-year tenure is 8.90% with effect from 1st April 2024. This MCLR will be effective till the next review, i.e. 1st May 2024. The 1-year MCLR HSBC Bank India MCLR rate is updated on the 1st of every month. Even a little change in the MCLR can have a great impact on your Home Loan interest rate, which is linked to MCLR, or even the interest rate of other MCLR-linked lending products offered by the bank. Therefore, it is advised to regularly keep checking the MCLR rate of the bank before you apply for a loan. A change in MCLR can affect your loan’s Equated Monthly Instalments (EMIs) as well.
HSBC Bank MCLR Rate History
There has been a significant fluctuation in the MCLR rate of HSBC Bank in the past few years. Following is the HSBC MCLR rate history till date:
| Last MCLR Updated Date | MCLR |
|---|---|
| 01.04.2024 | 8.45% - 8.90% |
| 01.03.2024 | 8.60% - 9.05% |
| 01.01.2024 | 8.50% - 8.95% |
| 01.05.2023 | 8.30% - 8.75% |
| 01.02.2023 | 8.20% - 8.65% |
| 01.01.2023 | 8.15% - 8.60% |
| 01.12.2021 | 6.75% - 7.05% |
| 01.09.2021 | 6.90% - 7.20% |
| 01.01.2021 | 7% - 7.30% |
| 01.11.2020 | 7.10% - 7.40% |
| 01.09.2020 | 7.20% - 7.50% |
| 01.05.2020 | 7.60% - 7.90% |
| 01.01.2020 | 7.95% - 8.30% |
| 01.09.2019 | 8.15% - 8.50% |
| 01.05.2019 | 8.30% - 8.90% |
| 01.01.2019 | 8.20% - 8.90% |
| 01.09.2018 | 8.10% - 8.80% |
| 01.05.2018 | 8% - 8.60% |
| 01.01.2018 | 7.80% - 8.15% |
| 01.09.2017 | 7.80% - 8.05% |
| 01.05.2017 | 7.60% - 7.85% |
| 01.01.2017 | 7.90% - 8.10% |
| 01.09.2016 | 8.30% - 8.40% |
| 01.06.2016 | 8.50% - 8.40% |
Related Articles
HSBC Bank MCLR FAQs
What is the MCLR rate today?
The current MCLR rate of HSBC Bank effective from 01st April 2024 is mentioned below:
| Tenure | HSBC Bank MCLR |
|---|---|
| Overnight | 8.45% |
| 1 Month | 8.60% |
| 3 Months | 8.75% |
| 6 Months | 8.85% |
| 1 Year | 8.90% |
Which is good, MCLR or base rate?
Looking at the current HSBC Bank India MCLR rate, it can be said that MCLR is better than the base rate for calculating loan interest rates.
How do you calculate the MCLR rate?
Based on the cost of borrowings, the RBI has introduced the following formula for calculating MCLR:
MCLR = (Marginal borrowing cost * 92%) + (Return on net worth * 8%)
How to convert Base Rate Home Loan to MCLR?
Converting from Base Rate Home Loan to the MCLR system primarily involves two steps, i.e. giving a written request to the bank for linking your loan with MCLR. After linking your loan to the current MCLR rate, request the bank to decrease the 'quantum of spread'.
What is the difference between MCLR and Base Rate?
The Base Rate is dependent on the average cost of funds, whereas the MCLR is based on the incremental/marginal cost of funds. Banks calculate the Base Rate by considering profit margin or minimum rate of return. However, MCLR is calculated considering tenure premium.
What is the HSBC best lending rate history?
Following is the HSBC MCLR lending rate history till date:
| Last MCLR Updated Date | MCLR |
|---|---|
| 01.04.2024 | 8.45% - 8.90% |
| 01.03.2024 | 8.60% - 9.05% |
| 01.01.2024 | 8.50% - 8.95% |
| 01.02.2023 | 8.20% - 8.65% |
| 01.01.2023 | 8.15% - 8.60% |
| 01.12.2021 | 6.75% - 7.05% |
| 01.09.2021 | 6.90% - 7.20% |
| 01.01.2021 | 7% - 7.30% |
| 01.11.2020 | 7.10% - 7.40% |
| 01.09.2020 | 7.20% - 7.50% |
| 01.05.2020 | 7.60% - 7.90% |
| 01.01.2020 | 7.95% - 8.30% |
| 01.09.2019 | 8.15% - 8.50% |
| 01.05.2019 | 8.30% - 8.90% |
| 01.01.2019 | 8.20% - 8.90% |
| 01.09.2018 | 8.10% - 8.80% |
| 01.05.2018 | 8% - 8.60% |
| 01.01.2018 | 7.80% - 8.15% |
| 01.09.2017 | 7.80% - 8.05% |
| 01.05.2017 | 7.60% - 7.85% |
| 01.01.2017 | 7.90% - 8.10% |
| 01.09.2016 | 8.30% - 8.40% |
| 01.06.2016 | 8.50% - 8.40% |
