HDFC to hike home loan rates by 0.5%

Housing Development Finance Corporation is all set to raise the interest rate on its home loans across all maturities by 0.50 per cent after Diwali.

"We are raising the rates on all tenures on home loans by 0.50 per cent", HDFC chairman Deepak Parekh told newspersons on the sidelines of a function to mark UK-based Berkley Plc taking stake in Intelenet, HDFC's business process outsourcing entity, in Mumbai on Monday.

The hike in deposit rates would follow soon but no specific time frame has been fixed, Parekh said.