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HDFC Increases Home Loan Rates, Effective May 9

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New Delhi:

On Saturday, HDFC increased its Retail Prime Lending Rate (RPLR) by 30 basis points, three days after the Reserve Bank of India (RBI) announced a 40 basis point increase in its repo rate, resulting in an equivalent increase in home loan rates for existing clients. The increase will be implemented on May 9.

All existing customers will see a 30 basis point price increase. This change will result in higher rates for new clients.

This comes just days after the company raised its benchmark lending rate by 5 basis points, increasing existing customers’ equivalent monthly installments. Interest rates are expected to rise as the RBI considers rolling back its loose monetary policy.

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