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Mortgage financier Housing Development and Finance Corporation (HDFC) on Sunday increased its retail prime lending rate (RPLR), on which its adjustable-rate home loans are benchmarked, by 5 basis points, with effect from May 1, 2022.
This comes after many large banks, including State Bank of India (SBI) increased their marginal cost of funds-based lending rate (MCLR) by 5-10 basis points last month.
Consequently, HDFC’s adjustable-rate home loans for customers with a credit score of above 750 will now be 6.75 per cent versus 6.70 per cent earlier.
For loans of up to Rs 30 lakh, customers would be charged an interest rate of
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