Mumbai: Housing Development Finance Corporation Ltd (HDFC Ltd) hiked its benchmark lending rate by 25 basis points (bps) with effect from August 1, company said in an exchange filing on Saturday.
The hike in rate by the mortgage lender came before the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting, which is to be held between August 3 and August 5.
“HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 25 basis points, with effect from August 1, 2022,” company said in a exchange filing.
The revised rates for new borrowers will range between 7.80 per cent and 8.30 per cent. The existing range is 7.55 per cent to 8.05 per cent. For existing customers, the rates will rise by 25 bps.
–IANS