HDFC revises its Floating interest rates on housing loans.
HDFC has revised its floating interest rates on home loans for both existing and new customers with effect from 1st December 2010. This is in line with the rates of interest in the economy, which have hardened due to rising inflation and shrinking liquidity in the domestic market.
HDFC has increased its Retail Prime Lending Rate (RPLR) on which its Adjustable Rate Home Loans (ARHL) is benchmarked, by 0.75% pa with effect from 1st December 2010. While HDFC has increased its RPLR by 75 bps since its last increase in September , the overall interest rates in the economy have moved up by 100 bps to 125 bps during this period.
For new Home Loan customers the ARHL loans will now be priced 9.5% pa for loans up to 30 lacs, 9.75% pa for loans up to 75 lacs and 10% pa for loan above 75 lacs.
Dated : 3rd December , 2010