HDFC Bank woes put spotlight on leadership continuity, top-tier handovers
The woes at HDFC Bank have put the spotlight back on leadership continuity and how lenders oversee top-tier handovers, reports Raghu Mohan
HDFC Bank has lowered its lending rates for certain loan tenures, which could provide relief to borrowers tied to this system. The lender reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points, which will come into effect from September 7, 2026. This adjustment brings its MCLR rates down to a range of 7.90% to 8.60%, depending on the loan duration.
The overnight MCLR has been cut from 8.00% to 7.90%. The 1-month, 3-month, 6-month, 1-year, 2-year, and 3-year MCLRs have also been reduced by 0.10%, 0.10%, 0.05%, 0.05%, 0.10%, and 0.05% respectively, as per the bank's revised rates.
HDFC Bank's MCLR rates in September 2026 are as follows: Overnight rate is 7.90%, 1-month rate is 7.90%, 3-month rate is 8.05%, 6-month rate is 8.25%, 1-year rate is 8.35%, 2-year rate is 8.45%, and the 3-year rate is 8.60%. In August 2026, the MCLR rates were higher: Overnight rate was 8.00%, 1-month rate was 8.00%, 3-month rate was 8.15%, 6-month rate was 8.30%, 1-year rate was 8.40%, 2-year rate was 8.55%, and the 3-year rate was 8.65%.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- HDFC Bank cuts lending rates: Who’ll benefit? economictimes.indiatimes.com
