Hdfc bank: The country’s largest private sector bank HDFC Bank has given a bumper gift to its crores of customers. HDFC Bank has reduced loan interest rates. This has happened a long time later when the bank has directly cut MCLR by 0.30 per cent. MCLR is directly associated with loan rates. The bank cannot give a home loan or car loan in any loan of any loan of MCLR. In such a situation, if the bank reduces MCLR, then the loans rates will be reduced automatically.
HDFC Bank reduced MCLR
HDFC Bank has cut MCLR by 0.30 per cent on all periods. The EMI of home, car and personal loan is reduced due to decrease in MCLR. The Reserve Bank of India has so far reduced 1 percent repo rate. After this, most banks of the country are cutting loans and FD rates. These new rates have come into force today from 7 July 2025.
HDFC Bank MCLR – July 2025 period
| Pirad | New MCLR (7 July 2025) | Old MCLR (7 June 2025) |
| Ovnight | 8.60% | 8.90% |
| One month | 8.60% | 8.90% |
| Three months | 8.65% | 8.95% |
| Six months | 8.75% | 9.05% |
| 1 year | 8.75% | 9.05% |
| 2 years | 8.75% | 9.10% |
| 3 year | 8.80% | 9.10% |
(Source – HDFC Bank Website)
HDFC Bank’s new MCLR rates – applicable from 7 July 2025
HDFC Bank’s Overnite and one month MCLR have been 8.90 percent to 8.60 percent. The rate of three months has reduced from 8.95 percent to 8.65 percent. MCLR of six months, one year and 2 years has increased to 8.75 percent. The three -year MCLR has been increased from 9.10 percent to 8.80 percent.
What is the effect on EMI
Whenever a bank changes its MCLR (marginal cost of funds based lending rate), it has a direct impact on the loan whose interest rate is floating, such as a home loan, personal loan and car loan. If the bank increases MCLR, your EMI also increases as the interest rate increases.
How is MCLR decided?
The bank decides on the cost of interest rates, repo rates, operational costs and CRR (cash reserve ratio) to decide the MCLR. When the RBI changes the repo rate, it also affects the MCLR.
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