Private lender HDFC has increased its retail prime lending rate (RPLR) by 35 basis points with effect from December 20, 2022. With the latest hike HDFC customers, new as well as existing, will have to pay 8.65% interest on home loans.
The non-banking finance company’s best rates are available only for applicants with credit score of 800 and above. Borrowers with a credit score below this cutoff will have to pay anywhere between 8.95% and 9.30% interest on home loans.
The move by India’s largest NBFC follows a 35-basis point increase in the repo rate by the Reserve Bank of India on December 7, 2022. Since May this year, India’s apex bank has increased the repo rate by a cumulative 225 basis points as it amps up efforts to tame stubbornly high inflation.
Following the RBI move, several lenders, including SBI and ICICI Bank, have increased their lending rates to align them with the repo rate hike.
know about: hdfc home loan login
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
Related Posts
Your guide to proper house ventilation design.
10 best sliding door handle designs for 2022.
Sal wood: Uses, disadvantages and furniture design ideas.
E district scholarship: All you need to know.
Resorts in Shimla for an incredible vacation.
India’s upwardly mobile ageing population, COVID-19 pandemic spur growth in nascent senior living segment.
