HDFC Bank Base Rate, HDFC Bank MCLR Base Rate Past Trend

Current HDFC Bank MCLR Base Rate

Last Updated 10th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Tenure MCLR, Base Rate
Overnight 8.65%
1 Month 8.70%
3 Month 8.80%
6 Month 8.85%
1 Year 8.90%
2 Year 8.95%
3 Year 9.05%
Current MCLR base rate of HDFC Bank ranges from 8.65% to 9.05% depending on the reset frequency of the loan. Rates are revised every month.
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HDFC Bank Interest Rates
Loan Against Property Rates 10.75% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 3.50% to 6.95% * Detail

Past Trend Base Rate of HDFC Bank

HDFC Bank base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
07th Dec 16
8.65%
8.70%
8.80%
8.85%
8.90%
8.95%
9.05%
-
07th Nov 16
8.70%
8.75%
8.80%
8.85%
8.90%
9.00%
9.05%
-
07th Oct 16
8.85%
8.90%
8.95%
9.00%
9.05%
9.15%
9.20%
-
07th Sep 16
8.85%
8.90%
9.00%
9.05%
9.05%
9.15%
9.25%
-
08th Aug 16
8.90%
8.95%
9.00%
9.05%
9.10%
9.20%
9.25%
-
07th Jul 16
8.90%
8.95%
9.00%
9.05%
9.10%
9.20%
9.25%
-
07th Jun 16
8.90%
8.95%
9.05%
9.10%
9.15%
9.20%
9.30%
-
07th May 16
8.90%
9.00%
9.05%
9.10%
9.15%
9.25%
9.30%
-
01st Apr 16
8.95%
9.05%
9.10%
9.15%
9.20%
9.30%
9.35%
-

HDFC Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, HDFC Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. HDFC Bank has different MCLR base rates ranging from 8.65% to 9.05% for different tenures

Changes in MCLR Base rate of HDFC Bank

  • MCLR rate can be revised by HDFC Bank every month
  • Note that it is not mandatory for HDFC Bank to revise its rate every month and it may choose to retain the same rate for a longer period

HDFC Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by HDFC Bank is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from HDFC Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of HDFC Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.20%. This loan will initially be priced at 9.7%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.95%, the loan will be priced at 9.45% for the next year

Past trend of HDFC Bank Base Rate vs RBI Repo Rate

Date Base Rate
24th Oct 16 9.25%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
04th Jan 16 9.30% decreased by 0.05%
29th Sep 15: 0.5% repo cut by RBI
01st Sep 15 9.35% decreased by 0.35%
15th Jun 15 9.70% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
07th Apr 15 9.85% decreased by 0.15%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
02nd Nov 13 10.00% increased by 0.2%
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd Aug 13 9.80% increased by 0.2%
03rd May 13: 0.25% repo cut by RBI
30th Mar 13 9.60% decreased by 0.1%
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
31st Dec 12 9.70% decreased by 0.1%
30th Jun 12 9.80% decreased by 0.2%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
13th Aug 11 10.00% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
12th Jul 11 9.50% increased by 0.25%
16th Jun 11: 0.25% repo hike by RBI
12th May 11 9.25% increased by 0.55%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
14th Mar 11 8.70% increased by 0.5%
24th Feb 11 8.20% increased by 0.45%
25th Jan 11: 0.25% repo hike by RBI
01st Jan 11 7.75% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
05th Oct 10 7.50% increased by 0.25%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.25%

HDFC Bank Base Rate Vs. RBI Repo Rate Trend

About HDFC Bank

  • HDFC Bank is a Private Bank in India with 4,014 branches, 11,766 ATM's and 76,286 employees across the country.
  • HDFC Bank's registered office is located at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra-400013 .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 22,396 crs. and Standalone net profit of Rs. 10,216 crs. HDFC Bank reported total deposits of Rs. 450,796 crs and total advances of Rs. 365,495 crs.
  • HDFC Bank's management is led by its CEO Mr. Aditya Puri.
  • Highest fixed deposit interest offered by HDFC Bank is 7.00% per annum on deposits.
  • Its current Base Rate is 9.25%, which was last revised on 24th Oct 16.
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News - Dec 2016
07th Dec 16 HDFC Bank reduces its MCLR by 5 basis points
HDFC Bank has reduced its overnight marginal cost of lending rate by 5 basis points to 8.65 percent from 8.70 percent. The bank has also reduced its one month lending rate to 8.70 percent from 8.75 percent earlier. The new rates are effective from 7th December, 2016.
25th Nov 16 HDFC Bank ties up with Suzuki motorcycles as financing partner
HDFC Bank has announced a partnership with Suzuki Motorcycles to offer up to 100 percent finance on purchase of Suzuki two wheelers. The offer is available to government employees and HDFC Bank account holders.
24th Nov 16 HDFC Bank will accept payments through UPIs
HDFC Bank has decided to accept payments through digital payment system known as Unified Payment Interface (UPI). UPI helps the customers transfer amount through bank account number, IFSC code etc. HDFC Bank has its own digital wallet application called Payzapp.
22nd Nov 16 HDFC, Axis and ICICI Banks collaborate with Honda cars for 100 percent vehicle loans
Honda cars announced its collaboration with HDFC, Axis and ICICI Banks to facilitate 100 percent funding of cars. ICICI will offer loans up to 100 percent of ex-showroom prices at 9.75 percent rate. HDFC will offer loans up to 100 percent of on road prices for all Honda cars except Honda CR-V and Axis Bank will offer loans up to 100 percent of on-road price for 8 years for all central government employees with salary of more than Rs. 25,000 per month.
19th Nov 16 HDFC sells Rs. 869 crores Unitech loan to JM Financial Asset Reconstruction Company
HDFC has sold reality firm Unitech outstanding loan of Rs. 869 crores to JM Financial Asset Reconstruction Company. JM ARC has paid Rs. 155 crores upfront and has issued security receipts of Rs. 705 crores to HDFC.
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