Housing Development and Finance Corp (HDFC) has announced a 0.20 percent increase in its interest rate. HDFC took this step on Thursday, one day after the RBI policy rate hike The country’s largest housing lender has said in the information given to the stock exchange that HDFC has increased its retail prime lending rate (RPLR) by 20 basis points i.e. 0.20 percent.
Let us know that this increase has been effective since August 1. The interest rate on loans up to Rs 30 lakh will be 8.70 per cent while loans above Rs 30 lakh will be 8.8 per cent. The rate for other customers will be 0.05 percent more. In the bilateral monetary policy review on Wednesday, the Reserve Bank increased the key policy rate repo by 0.25 percent to 6.50 percent.
By referring to the risk of rising inflation, the RBI had increased the short-term lending rates by 25 basis points to 6.50%. HDFC’s shares closed 1.9% lower at BSE at 1932.65 on Thursday.
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