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HDFC Bank, the country’s largest private sector bank, has given Diwali gifts to millions of its customers ahead of Diwali. HDFC Bank has reduced the interest rates on loans. The bank has reduced MCLR by 0.15%. This reduction has been done over time. MCLR is directly linked to loan rates. Bank cannot give loan less than MCLR. If the bank reduces the MCLR, the loan rates will automatically reduce and it will directly benefit the customers. HDFC Bank has reduced the MCLR… HDFC Bank has revised the MCLR for overnight, one month, three months and three years tenure. The bank has reduced the rates by 0.05% to 0.15%. This reduction in MCLR will reduce the EMI of home, car and personal loans. HDFC Bank MCLR – Overnight New MCLR (October 7, 2025) 8.45% which was earlier 8.55%. One month New MCLR (October 7, 2025) 8.40% which was earlier 8.55% Three Month New MCLR (October 7, 2025) 8.45% Which was earlier 8.60%Six month new MCLR (October 7, 2025) 8.55% which was earlier 8.65%New 1 year MCLR (October 7, 2025) 8.55% which was earlier 8.65%New 2 year MCLR (October 7, 2025) 8.60% which was earlier 8.70%New 3 year MCLR (October 7, 2025) 8.65% which Earlier it was 8.75%. What happens when MCLR decreases? Whenever a bank changes its MCLR (Marginal Cost of Funds based Lending Rate), it directly impacts loans with floating interest rates, such as home loans, personal loans and car loans. If the bank increases the MCLR, your EMI or EMI tenure increases. Because interest rates rise. How is MCLR determined? To determine MCLR, banks take into account the cost of interest rates on deposits, repo rates, operating costs and CRR (cash reserve ratio). When RBI changes the repo rate, it also impacts the MCLR.