Private sector lender HDFC bank has once again revised its Marginal Cost of Funds based Lending Rate (MCLR) on select short-term tenors. The latest HDFC bank MCLR rates are applicable from 7 July 2026. HDFC Bank has reduced the overnight MCLR by 5 basis points, while the one-month, three-month, six-month and two-year MCLR remain unchanged
Check HDFC Bank MCLR Rates 7 July 2026
| Tenure | MCLR | |
|---|---|---|
| Overnight | 8.05% | |
| 1 Month | 8.05% | |
| 3 Month | 8.20% | |
| 6 Month | 8.35% | |
| 1 Year | 8.45% | |
| 2 Year | 8.55% | |
| 3 Year | 8.70% |
What are marginal cost of funds-based lending rates (MCLR)?
The marginal cost of funds-based lending rate (MCLR) is the minimum interest rate that a bank can charge on a loan. It represents the lowest rate a borrower can get. Introduced by the Reserve Bank of India (RBI) in 2016, MCLR replaced the earlier base rate system. It helps banks set interest rates for different types of loans, including home, business, and personal loans.
RBI key interest rates
Much to expectations, the Reserve Bank of India (RBI) last month kept the policy repo rates unchanged at 5.25 percent, continuing its neutral stance. RBI’s Monetary Policy Committee decided to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia.
“After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, the MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.25 percent. Consequently, the standing deposit facility (SDF) rate remains at 5.00 percent and the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50 percent. The MPC also decided to continue with the neutral stance,” RBI Governor Sanjay Malhotra said.
RBI Policy Rates June 2026
Repo rate: 5.25 percent
Reverse repo rate: 3.35 percent
Standing Deposit Facility (SDF): 3.25 percent
Marginal Standing Facility (MSF): 5.50 percent
Bank rate: 5.50 percent
The RBI MPC decision comes against the backdrop of escalating geopolitical tensions in West Asia, that have raked up crude oil prices in the global market. Experts had largely anticipated a status quo on rates, expecting the RBI to remain in a holding pattern in the near term.
