HDFC Bank Share Price in Focus; Bank Cuts Lending Rates from May 7, 2026

HDFC Bank has revised its Marginal Cost of Funds-based Lending Rates (MCLR), reducing rates on select short-term tenures by up to 5 basis points (bps) while increasing the 3-year tenor by 5 bps. The revised rates are effective from May 7, 2026, according to the bank’s website. 

Following the revision, the bank’s MCLR now ranges between 8.05% and 8.60%. Earlier, the rates were between 8.10% and 8.55%. One basis point is equal to 0.01%. 

Short-Term Rates Lowered 

The overnight MCLR has been reduced to 8.05% from 8.10%. The 1-month tenor has also been cut to 8.05% from 8.10%. 

The 3-month MCLR now stands at 8.15%, compared to 8.20% earlier. The 6-month tenor has been lowered to 8.30% from 8.35%. 

The 1-year and 2-year MCLR rates remain unchanged at 8.35% and 8.45%, respectively. 

3-Year MCLR Increased 

In contrast to the reduction in short-term tenures, the bank has raised the 3-year MCLR by 5 bps to 8.60% from 8.55%. 

MCLR is the minimum lending rate below which banks are generally not allowed to lend. The Reserve Bank of India introduced the MCLR framework in 2016 to improve the transmission of policy rate changes into lending rates. 

Loans linked to MCLR are typically reset at periodic intervals depending on the terms agreed between the borrower and the lender. 

Base Rate and BPLR 

HDFC Bank’s base rate continues at 8.80%, effective from December 26, 2025. The bank’s benchmark prime lending rate (BPLR) remains unchanged at 17.30% per annum. 

Earlier this year, the bank also revised its fixed deposit interest rates with effect from March 6, 2026. Interest rates for general customers currently range from 2.75% to 6.50%, while senior citizens are offered rates between 3.25% and 7%. 

For deposits with tenures from 3 years 1 day to less than 4 years 7 months, rates were increased by 10 bps to 6.50% for regular customers and 7% for senior citizens. 

Read More: Pace Digitek Share Price Surges Over 4% on Securing ₹7,020 Million BESS Order from Damodar Valley Corporation! 

HDFC Bank Share Price Performance  

As of May 8, 2026, 10:07 am, HDFC Bank Ltd share price was trading at ₹784.95, down 1.39% from the previous closing price. 

Conclusion  

HDFC Bank has retained most medium-term lending benchmarks while revising short-term and 3-year MCLR rates by 5 basis points. The changes apply from May 7, 2026. 

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