HDFC Bank has increased the Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points. The new rates are effective from June 8, 2026.
Bank hikes interest rates, home to car loans will be expensive: HDFC, the country’s largest private bank, has increased its interest rates on loans. Due to this, now the customers have to spend more on the EMI of home loan, car loan or personal loan than before. The bank has increased its Marginal Cost of Funds Based Lending Rate (MCLR) by 5-10 basis points. The new rates are effective from June 8, 2026.
HDFC Bank has taken this decision after the Reserve Bank of India (RBI) kept the repo rate steady at 5.25% in monetary policy. This decision of the bank will not affect the loan related to the repo rate of the Reserve Bank. Bank’s MCLR has now increased from 8.05% to 8.65% for different tenures. For overnight( 8.05% to 8.10%), 3 months(8.20%), 6 months(8.35%), 1 year(8.35% to 8.40%), 2 year(8.45% to 8.55%), 3 year(8.65%).
If your home loan, car loan or personal loan is MCLR linked, your monthly EMI will automatically increase on the next reset date or the loan tenure will increase. If your loan is directly linked to the external benchmark i.e. RBI’s repo rate, then this increase will not affect you.
ALSO READ: CBSE launches new re-evaluation portal
