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HDFC Bank MCLR Rates, HDFC Bank Base Rate – Aug 2017

Last Updated 23rd Aug 2017

HDFC Bank MCLR Rate – Current Rate, Past Trend

Current MCLR of HDFC Bank ranges from 7.85% to 8.45% depending on the reset frequency of the loan. Rates are revised every month.

HDFC Bank MCLR, Base Rate Tenure
7.85% Overnight
7.85% 1 Month
7.90% 3 Month
7.95% 6 Month
8.15% 1 Year
8.25% 2 Year
8.45% 3 Year
Base rate - 8.90% Past Trend
HDFC Bank Interest Rates
Loan Against Property Rates 10.75% * Floating Detail
Personal Loan Interest Rates 10.99% * Detail
Fixed Deposit Interest Rates 3.50% to 6.80% * Detail

Past Trend MCLR Rate of HDFC Bank

HDFC Bank MCLR 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 Aug 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.25%
8.45%
-
07th Jul 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.25%
8.45%
-
07th Jun 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.25%
8.45%
-
08th May 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.25%
8.45%
-
07th Apr 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.20%
8.30%
-
07th Mar 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.20%
8.30%
-
07th Feb 17
7.85%
7.85%
7.90%
7.95%
8.15%
8.20%
8.30%
-
07th Jan 17
7.85%
7.90%
7.90%
8.00%
8.15%
8.20%
8.30%
-
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 MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, HDFC Bank decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR 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 7.85% to 8.45% for different tenures

Changes in MCLR 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 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 RBI Rates Bank Rates
02nd Aug 17 0.25%
30th Jun 17 8.90% 0.1%
08th Jun 17 0%
06th Apr 17 0%
31st Mar 17 9.00% 0.25%
08th Feb 17 0%
07th Dec 16 0%
24th Oct 16 9.25% 0.05%
04th Oct 16 0.25%
05th Apr 16 0.25%
04th Jan 16 9.30% 0.05%
29th Sep 15 0.5%
01st Sep 15 9.35% 0.35%
15th Jun 15 9.70% 0.15%
02nd Jun 15 0.25%
07th Apr 15 9.85% 0.15%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
18th Dec 13 0%
02nd Nov 13 10.00% 0.2%
29th Oct 13 0.25%
20th Sep 13 0.25%
03rd Aug 13 9.80% 0.2%
03rd May 13 0.25%
30th Mar 13 9.60% 0.1%
19th Mar 13 0.25%
29th Jan 13 0.25%
31st Dec 12 9.70% 0.1%
30th Jun 12 9.80% 0.2%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
13th Aug 11 10.00% 0.5%
26th Jul 11 0.5%
12th Jul 11 9.50% 0.25%
16th Jun 11 0.25%
12th May 11 9.25% 0.55%
03rd May 11 0.5%
17th Mar 11 0.25%
14th Mar 11 8.70% 0.5%
24th Feb 11 8.20% 0.45%
25th Jan 11 0.25%
01st Jan 11 7.75% 0.25%
02nd Nov 10 0.25%
05th Oct 10 7.50% 0.25%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
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.
  • Its current Base Rate is 8.90%, which was last revised on 30th Jun 17.
Hdfc Bank Base Rate, PLR
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