HDFC Bank has announced several updates to its rules to improve customer service which includes changes to lending rates and fixed deposit interest rates. These updates, the bank says, will ensure better transparency in fees, safer online transactions and enhanced loan risk management.
While some of these changes made by HDFC Bank are currently in place, others will be implemented from April 1, 2026. Here’s a detailed look at the key policy changes made by the HDFC bank.
HDFC Bank has lowered its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points (bps) across select tenures which makes loans marginally cheaper for borrowers. The revised rates came into effect on March 7, 2026, according to the official website of the bank.
Following the revision, the bank’s MCLR now ranges between 8.15 percent and 8.55 percent, compared with 8.25 percent to 8.60 percent earlier. Overnight and one-month MCLRs have been reduced by 10 bps each from 8.25 percent to 8.15 percent. The bank has reduced the three-month MCLR by 5 bps from 8.30 percent to 8.25 percent. The six-month and one-year tenors have been reduced by 5 basis points each from 8.40 percent to 8.35 percent. The two-year MCLR has been cut from 8.50 percent to 8.45 percent. The three-year MCLR has been trimmed by 5 basis points from 8.60 percent to 8.55 percent.
The Bank has increased the FD interest rate by 10 bps from 6.40 percent to 6.50 percent on a tenure of 3 years and 1 day to less than 4 years and 7 months. The rates are applicable from March 6, 2026. For the same tenure of senior citizens FD, the Bank has also increased the interest rate from 6.90 percent to 7 percent. Following the interest rate revision, the Bank is offering FD interest rates from 2.75 percent and 6.50 percent to general customers and from 3.25 percent and 7 percent to senior citizens.
The Bank has announced that UPI cash withdrawals at ATMs would be included as part of the monthly free ATM transaction limit. There will be a fee of Rs 23 plus taxes per withdrawal after the free limit is exhausted. This change will be effective from April 1, 2026.
The Bank is set to revise its safe deposit locker rental structure by introducing a new Metro Plus category and increasing annual charges across locker sizes. The updated revision will come into effect from April 1, 2026. Under the revised rule, locker rentals will vary based on locker size and branch location classification like Metro Plus, Metro, Urban, Semi-Urban and Rural. An 18 percent GST will continue to apply on top of the base rental fees. According to media reports, some rentals in metro and metro plus branches could increase by up to 184 percent compared with current rates.
Bureau Report
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