HDFC cuts lending rate by 10 basis points; home loans to get cheaper
HDFC has reduced its retail prime lending rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 10 basis points
- Oct 14, 2019,
- Updated Oct 14, 2019 10:09 PM IST
Mortgage lender Housing Development Finance Corporation (HDFC) on Monday cut its benchmark lending rate by up to 0.10 per cent, joining over a dozen banks and housing finance companies that have slashed rates in last few days.
"The bank has reduced its retail prime lending rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 10 basis points," HDFC said in a filing to the Bombay Stock Exchange.
The change, which will be effect from October 15, 2019, will benefit all existing HDFC customers, it added. New rates will now range between 8.25 per cent and 8.65 per cent.
Mortgage lender Housing Development Finance Corporation (HDFC) on Monday cut its benchmark lending rate by up to 0.10 per cent, joining over a dozen banks and housing finance companies that have slashed rates in last few days.
"The bank has reduced its retail prime lending rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 10 basis points," HDFC said in a filing to the Bombay Stock Exchange.
The change, which will be effect from October 15, 2019, will benefit all existing HDFC customers, it added. New rates will now range between 8.25 per cent and 8.65 per cent.