HDFC Bank has revised its marginal cost of funds-based lending rate (MCLR), with effect from 7 February.

With this revision, the lender’s MCLR now varies between 8.9% to 9.35% across tenures.

The overnight MCLR rate has been raised by 10 basis points to 8.9% and the one-month MCLR also by 10 basis points to 8.95%. The 3-month MCLR is 9.10% and six-month MCLR 9.30%.

The one-year MCLR, which is the rate linked to a number of consumer loans, rose by 5 basis points to 9.30%. 

The 2-year MCLR is now 9.35% and 3-year MCLR remains unchanged at 9.35%.

Other interest rates continue to be the same. Since 25 September 2023, HDFC Bank's base rate has been 9.35%. 

The benchmark prime lending rate (PLR) stands at 17.85%, effective 25 September.