Interest rate hiked by 30 basis points.
HDFC has increased the interest rate for home loans for the second time within a week. This time the interest rate has been increased by 30 basis points, whereas on May 1, it was increased by 5 basis points. Now the minimum interest rate has become 7 percent.
home buyers (Homebuyers) has suffered a major setback. For the second time within a week, Housing Development Finance Bank HDFC has announced to increase the interest rate on home loans. HDFC Home Loan (HDFC Home Loan) has decided to increase the Retail Prime Lending Rate (RPLR) by 30 basis points. The new rate will be applicable from 9 May 2022. Now the minimum home loan interest rate of the bank will be 7 percent. Earlier on May 1, HDFC had increased the RPLR. This increase was done by 5 basis points, after which the minimum interest rate increased to 6.75 percent from 6.70 percent earlier.
If a homebuyer’s credit score is more than 750, then the minimum interest rate will be 7 percent. The minimum interest rate on home loans up to Rs.30 lakh for women is 7.05 per cent and for men and others it is 7.10 per cent. The interest rate on home loans of 30-75 lakhs has gone up to 7.30 percent for women and 7.35 percent for others. The minimum interest rate for women has been increased to 7.40 percent and for others it is 7.45 percent for home loans of more than 75 lakhs.
HDFC increases its Retail Prime Lending Rate on Housing Loans, on which its Adjustable Rate Home Loans are benchmarked by 30 basis points with effect from May 09, 2022. pic.twitter.com/cOoBoIM1Q8
— ANI (@ANI) May 7, 2022
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