HDFC Bank Cuts Home Loan Interest Rates: Here’s What Changes For You

What’s New in the Rates?

After the revision, HDFC Bank’s MCLR now falls between 8.55% and 8.75% depending on the loan period. Overnight and one-month rates stay at 8.55%, while the three-month MCLR stands at 8.60%. The six-month and one-year tenures see a dip of 5 bps, now at 8.65%. The two-year rate also drops to 8.70%, but the three-year MCLR holds steady at 8.75%.

A Quick Look at MCLR

MCLR is the lowest interest rate a bank can charge for loans. Introduced by the RBI in 2016, it sets a benchmark below which banks cannot lend ensuring fairness and transparency in lending rates.

Home Loan Rates Stay Repo-Linked

For homebuyers, interest rates remain linked to the RBI’s repo rate. HDFC Bank’s special home loan rates currently range from 7.90% to 13.20% for both salaried and self-employed applicants. These rates are calculated as repo rate + 2.4% to 7.7%, depending on the profile and loan type.

Base Rate and Benchmark PLR

While MCLR has been tweaked, HDFC Bank’s base rate stays at 9.35%, effective from June 25, 2025. Its Benchmark Prime Lending Rate (BPLR) continues at 17.85% per annum.

Fixed Deposit Interest Rates

For savers, FD rates remain unchanged. HDFC Bank offers 2.75%-6.60% for general customers and 3.25%-7.10% for senior citizens (for deposits under ₹3 crore). The peak rates 6.60% and 7.10% apply to tenures between 18 and 21 months.

What This Means for You

• Borrowers with floating loans linked to MCLR will see marginal savings.
• Home loan seekers remain tied to repo rate-linked pricing.
• Savers continue to benefit most from medium-term FDs.

With this revision, HDFC Bank signals a small but positive step for borrowers, while keeping depositors’ interests steady.

Source: HDFC Bank Official Website