HDFC Hikes Lending Rate On Housing Loans

Country’s largest mortgage lender HDFC Limited has hiked its retail prime lending rate (RPLR) by 5 basis points or 0.05 per cent on housing loans, effective from Wednesday (June 1). The move will lead to steeper home loan EMIs (easy monthly instalments).

“HDFC increases its RPLR on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022,” the company said in a BSE filing.

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 June 1, 2022. pic.twitter.com/x7VJDTxpFY

— ANI (@ANI) June 1, 2022

This is the third time in a month that HDFC has hiked its home loan rates.

Earlier, on May 2, it had raised RPLR by 5 basis points and on May 9 the home loan rates were increased by 30 basis points.

Meanwhile Punjab National Bank and ICICI Bank too have raised their lending rates, which would make home as well as other loans, costlier.