HSBC MCLR Rate
HSBC Bank MCLR ranges from 8.30% - 8.75% w.e.f 1st June 2025 for different tenures. MCLR is the minimum interest rate 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 (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 the 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 | 8.30% | 8.45% | 8.60% | 8.70% | 8.75% | NA | NA |
| Canara Bank | 8.25% | 8.35% | 8.45% | 8.80% | 9.00% | 9.30% | 9.40 |
| Axis Bank | 9.15% | 9.15% | 9.25% | 9.30% | 9.35% | 9.45% | 9.50% |
| Yes Bank | 9.10% | 9.45% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 9.05% | 9.10% | 9.20% | 9.35% | 9.40% | 9.40% | 9.40% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.20% | 8.45% | 8.50% | 8.85% | 8.95% | 9.05% | 9.10% |
| PNB | 8.30% | 8.35% | 8.55% | 8.75% | 8.90% | NA | 9.20% |
| PSB | 8.20% | 8.45% | 8.55% | 8.85% | 9.10% | NA | NA |
| Citibank | 6.65% | 6.90% | 6.95% | 7.00% | 6.95% | NA | NA |
| Bank of Baroda | 8.15% | 8.35% | 8.50% | 8.75% | 8.95% | NA | NA |
| IndusInd Bank | 10.20% | 10.25% | 10.40% | 10.55% | 10.55% | 10.55% | 10.55% |
| IDFC FIRST Bank | 10.20% | 10.20% | 10.40% | 10.60% | 10.70% | NA | NA |
| Bank of India | 8.15% | 8.40% | 8.55% | 8.75% | 8.95% | NA | 9.10% |
| Central Bank of India | 8.10% | 8.15% | 8.50% | 8.70% | 8.85% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.40% | 8.55% | 8.85% | 9.10% | 9.15% | 9.70% | 10.10% |
| Indian Overseas Bank | 8.20% | 8.45% | 8.60% | 8.85% | 8.95% | 9.00% | 9.15% |
| UCO Bank | 8.20% | 8.35% | 8.50% | 8.80% | 8.95% | NA | NA |
| Kotak Bank | 8.75% | 9.00% | 9.15% | 9.40% | 9.55% | 9.55% | 9.65% |
MCLR Rate of HSBC Bank
HSBC MCLR rate is competitive and currently varies between 8.30% - 8.75% for overnight to 1-year tenures with effect from 01 June 2025.
HSBC fixes its MCLR every month every 1st. Below is the current MCLR rate HSBC levies with effect from 01.06.2025:
- Overnight: 8.30%
- 1 Month: 8.45%
- 3 Months: 8.60%
- 6 Months: 8.70%
- 1 Year: 8.75%
HSBC Bank MCLR Rate Trend
Below is the HSBC Bank MCLR rate trend till now:
| Last MCLR Updated Date | Tenure | MCLR |
|---|---|---|
| 01.06.2025 | Overnight | 8.30% |
| 1 Month | 8.45% | |
| 3 Months | 8.60% | |
| 6 Months | 8.70% | |
| 1 Year | 8.75% | |
| 01.05.2025 | Overnight | 8.40% |
| 1 Month | 8.55% | |
| 3 Months | 8.70% | |
| 6 Months | 8.80% | |
| 1 Year | 8.85% | |
| 01.08.2024 | Overnight | 8.30% |
| 1 Month | 8.45% | |
| 3 Months | 8.60% | |
| 6 Months | 8.70% | |
| 1 Year | 8.75% | |
| 01.07.2024 | Overnight | 8.40% |
| 1 Month | 8.55% | |
| 3 Months | 8.70% | |
| 6 Months | 8.80% | |
| 1 Year | 8.85% | |
| 01.06.2024 | Overnight | 8.50% |
| 1 Month | 8.65% | |
| 3 Months | 8.80% | |
| 6 Months | 8.90% | |
| 1 Year | 8.95% | |
| 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 June 2025 are mentioned below:
| Tenure | HSBC Bank MCLR |
|---|---|
| Overnight | 8.30% |
| 1 Month | 8.45% |
| 3 Months | 8.60% |
| 6 Months | 8.70% |
| 1 Year | 8.75% |
The current HSBC home loan interest rates starts from 8.50% p.a. for salaried individuals, 8.75% p.a. for self-employed individuals, 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 8.75% with effect from 1st June 2025.
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 greatly impact 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 |
|---|---|
| 01.06.2025 | 8.30% - 8.75% |
| 01.05.2025 | 8.40% - 8.85% |
| 01.08.2024 | 8.30% - 8.75% |
| 01.07.2024 | 8.40% - 8.85% |
| 01.06.2024 | 8.50% - 8.95% |
| 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% |
HSBC Bank MCLR FAQs
The current HSBC Bank MCLR rate varies from 8.30% - 8.75% for different tenures with effect from 01.06.2025.
Based on the cost of borrowings, the RBI has introduced the following formula for calculating 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'.
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.
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