For Quick Alerts
For Daily Alerts

HDFC Reduces Lending Rates On Home Loans


Major Indian mortgage lender, Housing Development Finance Corporation (HDFC), on Wednesday informed its decision to cut retail prime lending rates on home loans by 10 basis points with effect from 1 August 2019.

HDFC Reduces Lending Rates On Home Loans

"HDFC has reduced its Retail Prime Lending Rate (RPLR) on Housing Loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 10 basis points with effect from August 1, 2019," the lender said in its regulatory filing with BSE.

Home loans up to Rs 30 lakh will be offered at 8.60 percent, it said. For women borrowers, HDFC will be offering these loans at Rs 8.55 percent. It also said that the reduction will be applicable on existing borrowers as well.

Loans above Rs 35 lakh and up to Rs 75 lakh will be offered at an interest rate of 8.85 percent for general customers and at 8.80 percent for women.

Further, interest rates on housing loans over Rs 75 lakh were lowered to 8.90 percent, while the same will be offered to women at 8.85 percent.

Since RBI's policy rates were lowered in June, many banks including the State Bank of India (SBI) have opted to reduced their loan pricing.

Story first published: Thursday, August 1, 2019, 11:33 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more