Bank Loan: Big relief on EMI! This bank has reduced the interest rate, lakhs of customers will benefit directly

HDFC Lending Rates: Amidst the ever increasing inflation in the country, the burden of loan EMIs remains on the common people. In such a situation, giving some relief to its customers, HDFC Bank has amended the Marginal Cost of Funds Based Lending Rate (MCLR). The bank has made a slight reduction in interest rates on loans of different tenures, which will have a direct impact on the EMIs of some borrowers. These new rates have come into effect from 7 April 2026.

How much has changed in MCLR?

According to the official website of the bank, MCLR has been reduced by 0.05% on some selected loan tenures. After this change, the interest rates of HDFC Bank have reduced from 8.15% to 8.10%. However, this relief is not applicable on all loans, but its effect will be seen only on loans of certain specific tenures.

Who will get the most benefit?

The maximum benefit of this deduction will be available to those customers who have taken loan for a period of 6 months to 3 years. Especially the overnight and 1 month MCLR has been reduced from 8.15% to 8.10%, while the 3 month MCLR has reduced from 8.25% to 8.20%. There has been no change in the rates for periods of 6 months, 1 year, 2 years and 3 years.

What will be the impact on EMI?

After this change, customers taking short term loans will see a slight reduction in EMI. That means they will have to pay slightly less installment than before. However, this will not have any impact on long term loans, hence the EMI of those customers will remain the same as before.

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