Housing Development and Finance Corp (HDFC) today announced increasing its lending rates by 0.20 percentage points, a day after the Reserve Bank of India (RBI) hiked the policy rate. “HDFC has increased its Retail Prime Lending Rate (RPLR), on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 20 basis points, with effect from August 1, 2018,” the country’s largest mortgage lender said in a regulatory filing. For women borrowers, loans up to Rs 30 lakh will be available at 8.70 per cent and above Rs 30 lakh at 8.8 per cent.
For other customers, the rate will be 5 basis points extra. In in its third bi-monthly monetary policy statement for 2018-19, the Reserve Bank increased the short-term lending rate by 25 basis points to 6.50 per cent on inflationary concerns. HDFC’s shares closed at Rs 1,932.65 apiece on the BSE, down 1.9 per cent.
