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New Delhi: Days after the Reserve Bank of India (RBI) hiked its repo rate for the fifth time in seven months, the Housing Development Finance Corporation Ltd (HDFC) on Monday revised its retail prime lending rate (RPLR) on home loans. The HDFC said that it would increase its RPLR on housing loans by 35 basis points, on which its Adjustable Rate Home Loans (ARHL) are benchmarked.
Earlier this month, the RBI had hiked repo rate by 0.35 per cent, from 5.9 per cent to 6.25 per cent.
HDFC Ltd offers low home loan interest rates starting from 8.20 per cent (for those with 800 plus credit score) per annum, the statement said. For those who do not have the required credit score, the interest rate may vary between 8.40 per cent to 8.90 per cent.
“This rate of interest is applicable to home loans, balance transfer loans, house renovation, and home extension loans. HDFC offers an adjustable-rate loan also known as a floating rate loan as well as a trufixed loan in which the interest rate on the home loan remains fixed for a specific tenure (say first two years of the entire loan tenure) after which it converts into an adjustable-rate loan,” it said.
| Loan Slab |
Home Loan Interest Rates (% p.a.)
|
| For Women* (upto 30 Lakhs) | 8.60 – 9.10 |
| For Others* (upto 30 Lakhs) | 8.65 – 9.15 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 8.85 – 9.35 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 8.90 – 9.40 |
| For Women* (75.01 Lakhs & Above) | 8.95 – 9.45 |
| For Others*(75.01 Lakhs & Above) | 9.00 – 9.50 |
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