HDFC Bank MCLR: The country’s largest private sector bank HDFC has reduced the MCLR on 7 May 2025 today. HDFC Bank has cut MCLR by 0.10 per cent to 0.15 per cent. The EMI of home, car and personal loan is reduced due to decrease in MCLR. Most of the banks have been losing interest on FDs since 2 times cut in the repo rate of Reserve Bank of India. Also, many banks have also cut MCLR.
HDFC Bank reduced MCLR
Home, car and personal loan interest is fixed on the basis of MCLR. HDFC has reduced MCLR from 0.10 per cent to 0.15 per cent on all periods. The new MCLR rate of HDFC Bank has come into force today from 7 May 2025.
| Pirad | New MCLR (7 May 2025) | Old mclr |
| Ovnight | 9.00% | 9.10% |
| One month | 9.00% | 9.10% |
| Three months | 9.05% | 9.20% |
| Six months | 9.15% | 9.30% |
| 1 year | 9.15% | 9.30% |
| 2 years | 9.20% | 9.30% |
| 3 year | 9.20% | 9.35% |
HDFC Bank’s new MCLR rates – implemented from 7 May 2025
HDFC Bank has an overnight MCLR 9.00 per cent. One month MCLR has come down to 9.00 percent. The rate of three months has come down to 9.05 percent. The rate of six months and one year has come down to 9.15 percent. This was 9.30 percent earlier. The thirty -year MCLR has been reduced to 9.29 percent.
Mclr
Whenever a bank changes its MCLR (marginal cost of funds based lending rate), it has a direct impact on the EMI of a loan with a floating rate like home loan, personal loan and car loan.
If the bank increases MCLR, the loan interest rate increases. This means that you have to pay more EMI every month. If the bank reduces MCLR, the interest rates decrease and your EMI also decreases. Could also have the benefit to those who want to take a new loan, because they can get a cheaper loan than before.
How is MCLR decided?
Banks pay attention to several factor to fix MCLR, such as the cost of deposit rate, repo rate, operational cost and cash reserve ratio (CRR). When the RBI changes the repo rate, it directly affects the MCLR. If the repo rate decreases, banks can also reduce MCLR, which can make the loan cheaper. At the same time, if the repo rate increases, MCLR also increases and the EMI of the loan becomes expensive.
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