HDFC Bank reduces MCLR by 0.05%, home loan EMIs to drop.

• HDFC Bank reduced its MCLR by 0.05% (5 basis points), benefiting millions of customers.
• The new MCLR range for HDFC Bank is now 8.30% to 8.55%.
• Customers with MCLR-linked home loans and other retail loans may see lower EMIs or reduced loan tenure.
• This rate cut follows the Reserve Bank of India's recent reduction in the repo rate.

Why It Matters: HDFC Bank's MCLR cut means lower loan EMIs for millions of customers.