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HDFC Bank has not announced any fresh cut in its Marginal Cost of Funds-Based Lending Rate (MCLR), effective April 7, 2026. The bank’s most recent revision in MCLR was on March 7, 2026, when it cut rates by up to 10 basis points on select tenors. The move provides some relief to MCLR-linked borrowers (including home loan borrowers), ahead of the upcoming RBI monetary policy announcement.

The Monetary Policy Committee of the RBI is scheduled to meet from April 6 to 8, 2026, and the policy decision is expected on April 8.

Current HDFC Bank MCLR Rates (effective March 7, 2026):

| Tenor MCLR Rate |
|————-|———–|
| Overnight | 8.15%
| 1 month 8.15%
| 3 months | 8.25%
| 6 months 8.35%
| 1 year 8.35%
| 2 years 8.45%
| 3 years 8.55%

Small cuts of 5 basis points each were seen in medium and long-term rates. The maximum reduction in overnight and one-month periods was 10 basis points.

What is MCLR?
Marginal Cost of Funds-Based Lending Rate (MCLR), which was introduced by the Reserve Bank of India in 2016, is the minimum interest rate that a bank can charge on loans. It replaces the previous ‘base rate’ system and is calculated based on the bank’s marginal cost of funds, operating costs and other factors. MCLR linked loans are reset at regular intervals (usually on the ‘reset date’); When rates are revised, this process may lead to changes in EMIs of home loan or other borrowers.

Borrowers are advised to visit the bank’s official website or contact their branch for latest applicable rates as MCLR linked loans keep getting reset from time to time. No major changes are expected just ahead of the RBI policy announcement on April 8.