HDFC hikes home loan rate by 10 bps, big setback for borrowers
Mumbai: Ahead of the Reserve Bank’s monetary policy announcement, mortgage lender HDFC Monday increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect.
Following the hike, The corporation’s home loan rates start from 8.80 per cent on loans of up to Rs 30 lakh for salaried women. For loans between Rs 30 lakh and Rs 75 lakh, it is 8.95 per cent and 9 per cent on loans above Rs 75 lakh.
“HDFC has increased its retail prime lending rate (RPLR), on which its adjustable-rate home loans are benchmarked, by 10 basis points, with effect from October 1, 2018,” HDFC said in a statement to the stock exchange.