HDFC Bank has implemented a reduction in its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points for select loan tenures, impacting borrowers whose loans are linked to this internal benchmark. This adjustment, effective from November 7, means the bank’s MCLR now ranges between 8.35% and 8.60%, compared to the previous range of 8.45% to 8.65%. Borrowers with home, auto, or personal loans connected to the MCLR will see their interest rates adjusted at the time of their next reset period, in line with the revised rates. Customers whose loans are tied to external benchmarks, such as the Reserve Bank of India’s repo rate, will not be affected by this change. Advertisement

The newly revised MCLR rates by tenure are as follows: Overnight and one-month tenures at 8.35%, th

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