HDFC raises home loan interests by 30 bps after RBI's repo rate hike

For new customers, on loans upto Rs 30 lakh, interest rate charged will be 7.10 per cent.

Mortgage lender Housing Development Finance Corporation (HDFC) on Saturday raised interest rate on home loans by 30 basis points, effective May 9, following the monetary policy committee’s decision to hike benchmark repo rate by 40 basis points earlier this week. The new rates will start from 7 per cent as against 6.7 per cent earlier.

HDFC joins a list of lenders, including ICICI Bank, Bank of Baroda, RBL Bank, who have raised interest rates consequent to the rate hike by MPC in an off-cycle meeting.

“HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its adjustable