HDFC hikes lending rate by 5 basis points; EMI to rise for existing borrower

Admin Admin May 2, 2022 10:14 67

HDFC hikes lending rate by 5 basis points; EMI to rise for existing borrower

Mortgage lender HDFC Ltd on Sunday raised its benchmark lending rate by 5 basis points, a move that will increase EMI for existing borrowers. The rate increase is in line with other lenders, including the State Bank of India and Bank of Baroda. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from May 1, 2022," the company said in a statement.