Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement.
Housing finance major HDFC and state-run Punjab National Bank on Tuesday announced up to 25 basis points increase in their lending interest rates, making their new and old loans expensive for consumers. The revised rates would be effective from March 1. Mortgage lender HDFC has increased its retail prime lending rate by 25 basis points to a minimum of 9.20 per cent.
After the Reserve Bank of India (RBI) raised key policy rates by 25 bps in the third quarter review of monetary policy, banks have started raising lending and deposit rates.
Talking about home loan rates, there is good news for borrowers.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
Country's premier home loan financier, Housing Development Finance Corporation on Tuesday slashed its lending rates by 0.5 per cent effective.
The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.
HDFC has raised its retail prime lending rate by 0.75 per cent with effect from December 1, 2010, it said. With this revision the RPLR goes up from 14.25 per cent to 15 per cent.
Housing lender HDFC Ltd has cut retail prime lending rate by 50 basis points.
HDFC has hiked interest rates for floating rate home loans by 0.50 per cent with a corresponding change in retail prime ending rate, effective November 22, but has left the fixed rates untouched.
HDFC has joined the interest rate war on housing loans by slashing both variable and fixed rates by 0.5 to 0.75 per cent for individual loans with effect from February 5.\n\n
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