HDFC home loan has become expensive now.
Housing Development and Finance Corporation (HDFC) home loan has become expensive now. The lender on Thursday announced that it is increasing the retail prime lending rate (RPLR) on housing loans by 50 basis points.
Housing Development And Finance Corporation (HDFC) of home loan (Home Loan) It has become expensive now. The lender on Thursday announced that it will increase the retail prime lending rate (RPLR) on housing loans by 50 basis points. (Rate Hike) doing. increased interest rate (Interest Rates) It will come into effect from 10 June 2022. Earlier, the Reserve Bank of India i.e. RBI had increased the benchmark repo rate by 0.50 percent on Wednesday. This increase was done by the central bank to control inflation.
RPLR is the rate at which Adjustable Rate Home Loans (ARHL) are settled. Now the interest rate on home loan will start from 7.55 percent.
Loans of these banks became expensive
Earlier, ICICI Bank had increased the external benchmark lending rate (EBLR) by 50 basis points to 8.60 per cent from 8.10 per cent. ICICI Bank has written on its website that in view of the increase in the repo rate by the Reserve Bank of India, the EBLR has been increased and it has now become 8.60 percent. The new rates have come into effect from June 8, 2022.
Apart from this, Bank of Baroda has reduced the BRLLR to 7.40 percent, which has come into effect from June 9, 2022. Punjab National Bank has increased the RLLR to 7.40 percent and the new rates have been implemented from June 9, 2022. Bank of India has also increased interest rates. Bank of India has increased the RBLR to 7.75 percent. The new rates of the bank have come into effect from June 8, 2022.
Let us tell you that on June 8, 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das announced an increase of 50 basis points in the repo rate, increasing it from 4.40 percent to 4.90 percent. Earlier, on May 4 itself, RBI had increased the repo rate by 40 basis points, increasing it from 4.00 percent to 4.40 percent. After the RBI increased the interest rate to 0.90 percent in 35 days, all the banks have started giving shock to their customers. After increasing the interest rates by banks, the burden of EMI on the common man will increase. Due to the cost of the loan, there will be a significant increase in the EMI, which will have a bad effect on the savings of the people.
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