After the Reserve Bank of India (RBI) announced its monetary policy, HDFC Bank has given some relief to its customers. The bank has revised its MCLR (Marginal Cost of Funds Based Lending Rate) for certain loan periods.
This change will benefit only those customers whose loans are linked to the MCLR. The new rates are effective from February 7, 2026.
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Change in HDFC Bank’s MCLR Rates
HDFC Bank has reduced its three-year MCLR by 5 basis points (0.05%). However, the bank has not changed the MCLR for other loan tenures.
This means only customers with loans linked to the three-year MCLR will get some relief. Other loan customers will not see any change in their interest rates.
Current MCLR Range of HDFC Bank
After the revision, HDFC Bank’s MCLR rates now range from 8.25% to 8.60% for different tenures. Earlier, this range was 8.25% to 8.55%.
Although the change is small, it is still helpful for customers with long-term loans linked to the three-year MCLR.
MCLR Rates That Remain Unchanged
HDFC Bank has kept the following MCLR rates unchanged:
Overnight
One-month
Three-month
Six-month
One-year
Two-year
Because of this, the EMIs for loans linked to these tenures will remain the same. Only loans linked to the three-year MCLR may see a slight reduction in EMIs.
Impact of RBI’s Decision
On February 6, 2026, the RBI kept the repo rate unchanged at 5.25% during its monetary policy meeting. Earlier, in December 2025, the RBI had cut the repo rate by 0.25%.
Even though the RBI did not change the repo rate this time, HDFC Bank still decided to reduce its three-year MCLR.
What is MCLR?
MCLR is the minimum interest rate at which banks can lend money. It depends on the bank’s cost of funds.
If your home loan, car loan, or personal loan is linked to MCLR, a reduction in MCLR can lead to a lower EMI.
Other Important HDFC Bank Rates
Base Rate: 8.80% (effective from December 26, 2025)
Benchmark PLR: 17.30%
Fixed Deposit (FD) Rates:
General customers: 2.75% to 6.45%
Senior citizens: 3.25% to 6.95%
Final Takeaway
If your loan is linked to HDFC Bank’s three-year MCLR, you may get some relief in your EMI. However, customers with loans linked to other MCLR tenures will have to wait for any further changes.