HDFC Bank Cuts MCLR Rates: Big Relief for Home and Car Loan Borrowers!
Money
N
News18•09-01-2026, 14:21
HDFC Bank Cuts MCLR Rates: Big Relief for Home and Car Loan Borrowers!
- •HDFC Bank, India's largest private lender, has reduced its Marginal Cost of Funds-Based Lending Rates (MCLR).
- •MCLR rates have been cut by up to 5 basis points on select loan tenures, benefiting borrowers with loans linked to this system.
- •The revised MCLR rates, effective January 7, 2026, now range from 8.25% to 8.55% depending on the loan tenure.
- •Overnight, one-month, and one-year MCLR rates have been reduced, while six-month, two-year, and three-year rates remain stable.
- •MCLR is the minimum interest rate a financial institution can charge on a loan, introduced by RBI in 2016.
Why It Matters: HDFC Bank's MCLR cut offers significant relief to home and car loan borrowers with lower EMIs.
✦
More like this
Loading more articles...
