HDFC Bank reduces MCLR by 10 bps across all loan tenures from 7 June

The MCLR for HDFC Bank now ranges from 8.90 to 9.10 per cent across tenors, following a 50 bps cut in the repo rate by the RBI's monetary policy committee last week

HDFC Bank, the country’s largest private sector lender, has reduced its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) across tenors, effective 7 June.

 

The lender’s MCLR now ranges from 8.90 per cent to 9.10 per cent, with the overnight and one-month MCLR at 8.90 per cent; three-month MCLR at 8.95 per cent; six-month and one-year MCLR at 9.05 per cent; and two- and three-year MCLR at 9.10 per cent.

 

This comes in the wake of the Reserve Bank of India’s monetary policy committee (MPC) reducing the policy repo rate by 50 bps last week. So far, the rate-setting body has reduced the repo rate by 100 bps since February. 

 

According to RBI data, the weighted average lending rate (WALR) on fresh rupee loans and outstanding rupee loans has declined by 6 bps and 17 bps, respectively, during February–April 2025, reflecting policy rate transmission to lending rates. The weighted average domestic term deposit rates (WADTDR) on fresh deposits declined by 27 bps, while the WADTDR on outstanding deposits declined by 1 bp during February–April 2025.