HDFC Bank has reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points (bps) across select loan tenures, a move that could bring relief to borrowers whose loans are linked to this internal benchmark.

The revised rates came into effect on November 7.

Following the revision, HDFC Bank’s MCLR now ranges between 8.35% and 8.60%, compared to 8.45% and 8.65% earlier.

A basis point is equivalent to one-hundredth of a percentage point.

Revised HDFC Bank MCLR

Loan Tenure Revised MCLR (%) Overnight 8.35 One Month 8.35 Three Months 8.4 Six Months 8.45 One Year 8.5 Two Years 8.55 Three Years 8.6

Who will be impacted?

Borrowers with home, auto, or personal loans linked to the MCLR will see their interest rates adjusted at the time of their next reset period, in l

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