HDFC Bank Share Price in Focus as Bank Cuts MCLR by Upto 10 Basis Points Effective September 7, 2026

HDFC Bank has announced a reduction in its Marginal Cost of Funds-based Lending Rate (MCLR) benchmarks by 5-10 basis points across various tenures, effective September 7, 2026, as per The Moneycontrol report.  

The revised rates now range from 7.90% to 8.60%, aiming to benefit borrowers with MCLR-linked loans. 

Revised MCLR Rates Breakdown 

The overnight MCLR is now set at 7.90%, compared to the previous 8% in August 2026, reflecting a 10-basis-point decrease. The one-month rate also stands at 7.90%, down from 8%.  

Both tenures have received cuts of 10 basis points and now carry the lowest rates among the seven listed benchmarks. 

The 3-month MCLR has been reduced to 8.05% from 8.15%, representing a 10-basis-point reduction. The 6-month rate has decreased to 8.25% from 8.30%. This tenure witnessed a smaller cut of 5 basis points. 

Annual and Extended Tenure Rates 

The one-year MCLR is now lowered to 8.35% from 8.40%, reflecting a 5-basis-point cut. Meanwhile, the 2-year rate is set at 8.45%, decreasing from 8.55%, marking a 10-basis-point reduction.  

Lastly, the 3-year rate has reduced to 8.60% from 8.65%, with a 5-basis-point adjustment, leaving it as the highest among the listed tenures. 

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Additional Rate Information 

HDFC Bank’s base rate remains at 8.70%, effective June 24, 2026. The Benchmark Prime Lending Rate is now 17.20% annually, slightly adjusted from a previous 17.30%. It is important to note these rates are separate from the MCLR revisions. 

Deposit rates range from 2.75% to 6.50% for general customers, while senior citizens enjoy rates between 3.25% and 7%. These deposit rates are distinct from the modified lending benchmarks starting in September. 

HDFC Bank Share Price Performance 

As of September 08, 2026, at 10:42 AM, HDFC Bank share price on NSE was trading at ₹705.45, down by 0.71% from the previous closing price. 

Conclusion 

HDFC Bank has adjusted the MCLR lending benchmarks by 5-10 basis points, effective September 7, 2026. The new MCLR rates now stand between 7.90% and 8.60%. Specific reductions vary across different tenures, with four tenures seeing 10-basis-point cuts and the remaining three receiving 5-basis-point reductions. 

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