HDFC Bank has recently made changes to its loan interest rates, affecting various tenures. The changes, which came into effect from February 8, 2023, can be found on the HDFC Bank website. Approximately 30% of new loans are for home purchases exceeding Rs 75 lakh. The latest adjustments to the Marginal Cost of Funds-Based Lending Rates (MCLR) range from 8.90% to 9.35%. The overnight MCLR has increased by 10 basis points (bps) to 8.90%, while the one-month MCLR is now 8.95%. For the three-month tenure, the MCLR stands at 9.10%, and the six-month MCLR is 9.30%. The one-year MCLR has risen by 5 bps to 9.30%, while the three-year MCLR remains unchanged at 9.35%. HDFC Bank has also updated its Base Rate and Benchmark Prime Lending Rate (PLR) to 9.25% and 17.85% per annum, respectively. These rates are reviewed monthly, taking into account factors such as the repo rate and other borrowing rates. It’s important to note that loans cannot be provided at rates lower than the MCLR. The Marginal Cost of Funds-Based Lending Rate (MCLR) sets the minimum interest rate that HDFC Bank must charge for a particular loan, ensuring the lowest possible interest rate for borrowers. The rate remains fixed unless changed by the Reserve Bank of India (RBI). HDFC Bank encourages base rate borrowers to transition to MCLR when there’s a change in policy rates, but it’s advised to seek professional advice. Financial advisors can provide updated insights and assist in the transfer process.