HDFC Bank increases MCLR on loans by 20 basis points

Private sector lender, has raised its marginal cost of funds-based lending rate (MCLR) on loans across all tenures by 20 basis points (100 basis points = 1%), effective from July 7, 2022. This will raise the cost of housing, vehicle, personal, and other loans, and borrowers will see a rise in equated monthly instalments (EMI) for different types of loans.

According to the HDFC Bank website,, the overnight MCLR is now 7.70 percent, up from 7.50 percent previously. The MCLR for one month is 7.75 percent. The three-month and six-month MCLRs are 7.80 percent and 7.90 percent, respectively. The one-year MCLR, which is connected to many consumer loans, will now be 8.05 percent, the two-year MCLR will be 8.15 percent, and the three-year MCLR will be 8.25 percent.

Latest HDFC Bank MCLR
Source: HDFC Bank website

Last month, HDFC Bank had raised MCLR by 35 basis points (w.e.f June 7, 2022).

The bank will increase the interest rate on your home loan on the reset date in accordance with the current MCLR. As a result, if the reset date of your loan is in August and it is linked to the MCLR rate, your interest rate will increase in August.