HDFC Bank Raises Rates: Is Your EMI Costlier Now?

HDFC Bank has raised its internal lending rates by up to 10 basis points from June 8, 2026. If your home, car, or personal loan is linked to MCLR, your EMI could increase at the next reset date.

Here's what happened: HDFC Bank revised its MCLR upward by up to 10 basis points effective June 8, 2026, pushing rates to a range of 8.05%–8.65% depending on loan tenure.. MCLR-linked loans — including many home loans, car loans, and personal loans — automatically reprice when the borrower's reset date arrives, not immediately.. This hike comes even as RBI held the repo rate steady at 5.25%, meaning the bank adjusted its internal cost-of-funds calculation independently of RBI policy..

What you should do: Check your loan sanction letter or net banking account to confirm whether your loan is MCLR-linked or repo-rate-linked (EBLR) — the reset impact differs significantly.. Call HDFC Bank or log into your loan portal to find your specific reset date — that is when the new, higher MCLR will actually apply to your EMI.. Compare refinancing options: if your outstanding loan tenure is long and balance is above ₹20 lakh, request a balance transfer quote from other lenders offering lower rates today..

Loans sanctioned before 2020 are often still on MCLR. Switching to a repo-linked (EBLR) loan at the same bank can sometimes save ₹500–₹1,500/month — ask your branch for a conversion quote.