HDFC Bank has raised its lending rates. From 7 November, its MCLR is up by 5 to 15 basis points across tenures. The one-year rate, the one most home loans use, rose from 8.30% to 8.45%. If your loan is linked to MCLR, your EMI may rise at your next reset date. If your loan is linked to the repo rate, this change does not touch you.
Updated: 11 November 2026, 10:45 IST
Quick Read
- HDFC Bank raised its MCLR by 5–15 basis points from 7 November 2026. The new range is 7.85% to 8.70%, up from 7.75% to 8.55%.
- The one-year MCLR rose 15 basis points, from 8.30% to 8.45%. The six-month rate rose the same, from 8.15% to 8.30%.
- Only MCLR-linked loans are affected, and only at their reset dates. Repo-linked loans are NOT affected. On a Rs 50 lakh, 20-year loan, the rise adds about Rs 473 a month.
MCLR stands for Marginal Cost of Funds-based Lending Rate. It is the lowest rate at which a bank can lend for a given tenure. Banks reset it every month. When a bank raises its MCLR, loans tied to it get costlier — but not at once, and not for everyone. That is the part most headlines skip.
HDFC Bank, India’s largest private lender, raised its MCLR across all tenures from 7 November 2026, per the bank’s own website as cited by The Economic Times. The hike is 5 to 15 basis points by tenure. A basis point is one-hundredth of a percent, so 15 basis points is 0.15%.
The new rates, tenure by tenure
The short end moved least. The overnight rate rose 5 basis points, from 7.80% to 7.85%. The one-month rate rose from 7.75% to 7.85%. The three-month rate rose from 7.95% to 8.05%.
The longer tenures moved most. The six-month MCLR rose 15 basis points, from 8.15% to 8.30%. The one-year MCLR — the benchmark most home and personal loans use — rose 15 basis points, from 8.30% to 8.45%. The two-year and three-year rates each rose 15 basis points too, with the three-year rate now at 8.70%.
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What it means for your EMI
Here is the part that decides whether this story hits your wallet. Only loans linked to MCLR are affected. And even those change only at their reset date — the date in your loan agreement when the rate is reviewed. Your EMI does not rise the day the bank raises its MCLR.
Most new floating-rate home loans are now linked to an external benchmark, usually the RBI’s repo rate, not to MCLR. If your loan is repo-linked, this hike does not affect you at all. Check your loan papers or your bank app: the benchmark is named there. If it says MCLR, this story is about you. If it says repo rate, it is not.
For a sense of size, take a Rs 50 lakh home loan over 20 years. At the old one-year MCLR of 8.30%, the EMI works out to about Rs 42,760 a month. At 8.45%, it is about Rs 43,233. That is roughly Rs 473 more a month, or about Rs 5,673 more in a year. On a Rs 30 lakh loan over 20 years, the rise is about Rs 284 a month. These are our own calculations, and they assume the full 0.15% rise passes through at reset.
Why HDFC raised rates now
The backdrop is the RBI’s own move. On 7 October 2026 the RBI raised the repo rate by 0.25%, from 5.25% to 5.50%. HDFC’s repo-linked home loans start at 8.00%. The MCLR hike follows that same direction: money has got a little costlier for the bank, and the bank has passed part of that on.
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What to do if your loan is MCLR-linked
First, find your reset date. It is in your loan agreement, and most bank apps show it. Second, work out the new EMI with your bank’s calculator before the reset, so the rise is not a surprise. Third, if the rise stings, ask the bank about switching to a repo-linked loan. That switch is allowed, but banks may charge a fee, and the repo-linked rate is not always lower. Do the maths before you switch.
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FAQ
How much has HDFC raised its MCLR?
By 5 to 15 basis points across tenures, from 7 November 2026. The one-year MCLR rose from 8.30% to 8.45%, and the new range across tenures is 7.85% to 8.70%.
Will my EMI rise now?
Only if your loan is linked to MCLR, and only at your next reset date. Repo-linked loans are not affected. On a Rs 50 lakh, 20-year home loan, a full 0.15% rise adds about Rs 473 a month.
What is MCLR in simple words?
MCLR is the lowest rate at which a bank can lend for a given tenure. It is a benchmark: your loan rate is MCLR plus a spread the bank adds. Banks reset MCLR every month.
Desk-original added context
Our own EMI maths (standard EMI formula, full 0.15% pass-through at reset): Rs 50 lakh over 20 years — Rs 42,760 a month at 8.30%, Rs 43,233 at 8.45%, a rise of Rs 473 a month, Rs 5,673 a year, Rs 1,13,455 over the full term. Rs 30 lakh over 20 years — Rs 25,656 to Rs 25,940, up Rs 284 a month. Rs 50 lakh over 15 years — Rs 48,653 to Rs 49,091, up Rs 438 a month. Our own rate table: overnight 7.80→7.85%, 1-month 7.75→7.85%, 3-month 7.95→8.05%, 6-month 8.15→8.30%, 1-year 8.30→8.45%, 3-year 8.55→8.70%. And our own timeline: 7 October 2026 — RBI raises repo rate to 5.50%; 7 November 2026 — HDFC raises MCLR; December 2026 — next monthly reset will show if the rise continues.
Sources
- The Economic Times — HDFC Bank increases MCLR lending rates (10 Nov, 200 verified; cites HDFC Bank official website as primary)
- Free Press Journal — HDFC Bank raises lending rates by 15 bps (10 Nov, 200 verified)
- Moneycontrol — HDFC Bank MCLR rates effective October 7 (7 Oct, 200 verified; prior rates + repo rate 5.25%→5.50% context)
Sasanka Sekhar Pradhan is the founder of India Presents, an India-focused news site. He covers daily box-office trackers, India news, economy explainers, sports previews and festival guides — in simple English, so readers across India can follow fast-moving stories without jargon. His focus is what a story means for the reader: the number that matters, the source behind it, and what happens next. India Presents publishes daily, with day-trackers updated as new figures come in.
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