# HDFC Bank trims MCLR; NBFC FD rates reach 8.50% 2026-08-07T22:56:12+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet HDFC Bank has lowered its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 5 basis points on most tenures, effective August 7, 2026. The revised MCLR now ranges from 8% to 8.65%. The overnight, 1-month, 3-month, 6-month, 1-year and 3-year rates each dropped by 5 bps; the 2-year rate remains unchanged at 8.55%, according to the Economic Times. Meanwhile, Business Today reports that NBFCs are offering fixed deposit rates of up to 8.50% per annum. Muthoot Capital Services leads with 8.50% for three- and five-year deposits, followed by Manipal Housing Finance at 8.25% for one- and three-year tenures. Unlike bank FDs, NBFC deposits are not covered by the DICGC insurance framework, and the RBI is considering harmonising interest rate rules across regulated lenders to improve transparency. ## Coverage - economictimes.indiatimes.com - businesstoday.in Tags: banking, HDFC Bank, lending rates, MCLR, rate cut Canonical: https://indianopinion.org/hdfc-bank-trims-mclr-rates-by-up-to-5-bps/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/hdfc-bank-trims-mclr-rates-by-up-to-5-bps/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.