If you have taken a loan or are making a plan to take a loan, then this news is very beneficial for you. HDFC Bank has made a change in its MCLR (Marginal Cost of Funds-Based Lending Rate), which will make the EMI burden falling on the pockets of millions of loan holders. It has been 8.65%, which was earlier 8.70%. 2-year-old MCLR has also come down from 8.75% to 8.70%. Other tenures like overnight, 1- month, 3-month and 3-year rates are stable. Given the rates, 1 BPS = 0.01%. This change will directly benefit the customers whose Loan is link to MCLR. MCLR was started by RBI in 2016 to bring transparency in loan rates. Currently, Bank’s Base Rate is 9.35% and Benchmark PLR is 17.85% (effective from 25 June 2025). If you are thinking of taking Home Loan, Personal Loan or Auto Loan, then this can be the right opportunity.