A private sector lender has revised its Marginal Cost of Funds-based Lending Rates (MCLR) across select tenures, bringing mixed news for borrowers. Lending rates linked to shorter tenures have been reduced by up to 5 basis points (bps), offering some relief to customers with loans tied to this benchmark. However, one longer tenure has seen a rate hike of 5 bps. (One basis point equals one-hundredth of a percentage point.) The revised rates will come into effect from May 7, 2026, as per information available on the lender’s official website. After the latest revision, MCLR rates now range between 8.05% and 8.60%, depending on the loan tenure. Previously, the rates were in the range of 8.10% to 8.55%. Compared to the previous revision on April 7, 2026, the overnight, one-month, three-month, and six-month MCLR tenures have all been reduced by 5 bps. The overnight and one-month MCLRs now stand at 8.05%, down from 8.10%. The three-month MCLR has been lowered to 8.15% from 8.20%, while the six-month MCLR has declined to 8.30% from 8.35%. Meanwhile, the one-year and two-year MCLR rates have been left unchanged at 8.35% and 8.45%, respectively. In contrast, the three-year MCLR has been increased by 5 bps to 8.60%, up from 8.55%.