HDFC cuts home loan rates for existing borrowers by 15 basis points

Rates for new loans were cut earlier this month

After reducing the interest for new home loan borrowers, housing finance major HDFC Ltd has extended the same benefit to its existing customers too. It reduced its retail prime lending rate (RPLR) by 15 basis points to 16.15 per cent from 16.30 per cent. 

Home loan rates are calculated by reducing the spread from the RPLR. HDFC is offering women borrowers, a rate of 8.65 per cent on loans up to Rs 75 lakh, which is RPLR minus 7.5 per cent. The spread varies depending on whether it is a women borrower and the loan amount.

Earlier this month, HDFC