HDFC Bank Reduces Home Loan Rates: Lower EMIs in Awaiting
HDFC Bank has announced a significant reduction in home loan rates, which is expected to lower EMIs for account holders who have loans linked to the MCLR. These changes are part of the bank's strategy to enhance customer satisfaction.
Highlights
- •HDFC Bank has implemented a reduction in home loan rates by 10 basis points.
- •This reduction is set to come into effect from March 7, 2026.
- •The new MCLR rates have a range from 8.15% to 8.55%.
- •External benchmarks such as the RBI’s repo rate will not affect the EMIs or MCLR-based loans.
HDFC Bank has announced a reduction in its home loan rates, leading to a potential decrease in home loan EMIs for account holders.
Additionally, the bank has also reduced its marginal cost of funds-based lending rate for a limited period, bringing its MCLR rates down by 10 basis points.
These changes are meant to benefit account holders whose home loans, auto loans, or personal loans are linked to the MCLR. The reduction in interest rates is expected to result in reduced EMIs for these loans.
However, external benchmarks like the RBI’s repo rate do not affect the MCLR-based loans, meaning that their EMIs are determined based on changes in the repo rate.
