{"id":50563,"date":"2025-10-09T06:49:00","date_gmt":"2025-10-09T05:49:00","guid":{"rendered":"https:\/\/newstimers.com\/index.php\/2025\/10\/09\/hdfc-bank-reduces-loan-emi-before-diwali-big-gift-to-customers\/"},"modified":"2025-10-09T06:49:00","modified_gmt":"2025-10-09T05:49:00","slug":"hdfc-bank-reduces-loan-emi-before-diwali-big-gift-to-customers","status":"publish","type":"post","link":"https:\/\/newstimers.com\/index.php\/2025\/10\/09\/hdfc-bank-reduces-loan-emi-before-diwali-big-gift-to-customers\/","title":{"rendered":"HDFC Bank reduces loan EMI before Diwali, big gift to customers"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>HDFC Bank, the largest bank in the country by market value, has given a big gift to the customers taking loans before Diwali. The bank has announced a reduction in loan interest rates, which may reduce the monthly Loan EMI. The expectations of borrowers have increased due to reduction in MCLR.<\/p>\n<h3>Loan borrowers will get relief<\/h3>\n<ul>\n<li>HDFC Bank is the largest private sector bank with a market value of about Rs 15 lakh crore. It is second in the list of top-10 valuable companies after Reliance Industries.<\/li>\n<li>The bank has cut its Marginal Cost of Funds-based Lending Rate (MCLR), which can provide major relief to borrowers taking loans of various tenures and reduce their EMIs.<\/li>\n<\/ul>\n<h3>New interest rates after deduction<\/h3>\n<ul>\n<li>Overnight MCLR: 8.55% \u2192 8.45%<\/li>\n<li><strong>1 month:<\/strong> decreased to 8.40%<\/li>\n<li><strong>3 months:<\/strong> 8.45%<\/li>\n<li><strong>6 months and 1 year:<\/strong> 8.55%<\/li>\n<li><strong>2 years:<\/strong> 8.60%<\/li>\n<li><strong>3 year:<\/strong> 8.65%<\/li>\n<li>Earlier the rates were between 8.55% to 8.75%.<\/li>\n<li>The bank has reduced rates by up to 15 basis points on select tenures.<\/li>\n<\/ul>\n<h3>What is MCLR?<\/h3>\n<ul>\n<li>MCLR is the minimum interest rate that a bank can charge on a loan. It serves as the base rate for home loans, personal loans and commercial loans.<\/li>\n<li>The Reserve Bank of India (RBI) introduced MCLR in 2016 so that borrowers are not charged less than the minimum interest rate.<\/li>\n<\/ul>\n<h3>Impact on loan takers<\/h3>\n<ul>\n<li>MCLR directly affects the interest rate of the loan. The direct impact of the deduction will be visible in the monthly EMI of home loan and personal loan borrowers.<\/li>\n<li>HDFC Bank home loan rates currently range between 7.90% to 13.20%, depending on the borrower profile and loan type.<\/li>\n<li>The bank has especially taken steps to reduce the EMI burden on customers taking floating loans.<\/li>\n<\/ul>\n<h3>Main factors determining MCLR<\/h3>\n<ul>\n<li>bank deposit rate<\/li>\n<li>Repo rate and reserve repo rate<\/li>\n<li>operational cost<\/li>\n<li>Cost of maintaining cash reserve ratio<\/li>\n<\/ul>\n<p>The benefit of this deduction will fall directly on the pockets of the customers and there is news of relief for those taking loans before Diwali.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>HDFC Bank, the largest bank in the country by market value, has given a big gift to the customers taking loans before Diwali. The bank has announced a reduction in loan interest rates, which may reduce the monthly Loan EMI. The expectations of borrowers have increased due to reduction in MCLR. Loan borrowers will get [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":50564,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.ujjwalpradesh.com\/wp-content\/uploads\/2025\/10\/HDFC-Bank.jpg","fifu_image_alt":"","footnotes":""},"categories":[43785],"tags":[],"class_list":{"0":"post-50563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HDFC Bank reduces loan EMI before Diwali, big gift to customers - News Timers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newstimers.com\/index.php\/2025\/10\/09\/hdfc-bank-reduces-loan-emi-before-diwali-big-gift-to-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HDFC Bank reduces loan EMI before Diwali, big gift to customers - News Timers\" \/>\n<meta property=\"og:description\" content=\"HDFC Bank, the largest bank in the country by market value, has given a big gift to the customers taking loans before Diwali. 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