HDFC raises home loan interest rate by 30 basis points

Business

For borrowers with a credit rating above 750, the interest rate has been increased from 6.7% to 7%.

For borrowers with a credit rating above 750, the interest rate has been increased from 6.7% to 7%.

The mortgage bank HDFC Ltd. announced that it has increased its Retail Prime Lending Rate (RPLR) for home loans – against which its Adjustable Rate Home Loans (ARHL) are measured – by 30 basis points (bps), effective May 9. This comes on the back of the Reserve Bank raising the benchmark repo rate by 40 basis points.

For borrowers with a credit rating above 750, the interest rate has been increased from 6.7% to 7%. For female borrowers with a loan of less than 30 lakh, the rate has risen from 6.75% to 7.5%, while the rate for others in this category has risen to 7.1% from a previous 6.8%.

For general borrowers with loans above 30 lakh up to 75 lakh, the interest rate has increased from 7.05% to 7.35%. Borrowers pay 5 basis points less.

Home loans over 75 lakh bear interest at a rate of 7.45%, down from 7.15% previously. Borrowers pay 5 basis points less.

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