The revision pushes the lender's benchmark lending rates to span between 7.85% and 8.70%, up from the prior band of 7.75% to 8.55%. Rate adjustments were particularly pronounced on longer-term credit, where six-month through three-year durations experienced the sharpest hikes. Borrowers tied to these benchmarks will encounter elevated equated monthly installments as individual review periods arrive. Crucially, the impact will be staggered rather than immediate, applying only when specific loan reset intervals are reached.
Key points
Borrowers carrying MCLR-linked home, personal, and retail loans will experience higher in…: Borrowers carrying MCLR-linked home, personal, and retail loans will experience higher interest charges and increased EMIs.
Longer tenure borrowings face the steepest financing cost increases under the updated ben…: Longer tenure borrowings face the steepest financing cost increases under the updated benchmark structure.
Higher monthly installment charges will take effect gradually as individual loans reach t…: Higher monthly installment charges will take effect gradually as individual loans reach their designated reset dates.
Sources checked by our analysis pipeline: 1
HDFC Bank has increased its Marginal Cost of Funds-based Lending Rates (MCLR) across all tenures for November 2026. The latest revision means that borrowers whose loans are linked to the MCLR may have to pay higher interest rates when their loans are reset. The MCLR increase ranges from 5 basis points (bps) to 15 bps, depending on the loan tenure.
A basis point is one-hundredth of a percentage point. The revised HDFC Bank MCLR rates are applicable from November 7, 2026, as per HDFC Bank’s official website.
Following the revision, HDFC Bank's MCLR rates range from 7.85% to 8.70%
Earlier, HDFC Bank's MCLR rates were from 7.75% to 8.55%, depending on the loan tenure.
Also read: HDFC Bank increases FD interest rates by up to 50 bps: Senior citizens can now earn up to 7.20%; check revised rates
The increase is higher for longer MCLR tenors. HDFC Bank has increased its six-month MCLR from 8.15% to 8.30% and one-year MCLR from 8.30%-8.45%. The two-year and three-year MCLRs have also been raised by 15 basis points each.
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