The mortgage financier on Sunday increased its retail prime lending rate (RPLR) by 5 basis points, with effect from 1 May 2022.
Housing Development and Finance Corporation (HDFC)'s adjustable-rate home loans (ARHL), also known as a floating or a variable rate loan, are benchmarked on RPLR.HDFC's ARHL for customers with a credit score of above 750 will now be 6.75% as against 6.70% earlier.
For loans of up to Rs 30 lakh, customers will be charged an interest rate of 6.85%. Loans ranging between Rs 30-75 lakh will have an interest rate of 7.10%, and those above Rs 75 lakh will have an interest rate of 7.20%. HDFC offers women borrowers a discount of 5 bps in all segments.
HDFC provides home loans for affordable housing and continues to have the largest number of home loan customers at over 270,000 who have availed benefits under the government's Credit Linked Subsidy Scheme.
HDFC board will consider Q4 results today, 2 May 2022. The housing finance company's standalone net profit rose 11.44% to Rs 3,260.69 crore on 0.65% increase in total income to Rs 11792.21 crore in Q3 FY22 over Q3 FY21.
Shares of HDFC rose 0.17% to Rs 2228.15 on Friday.
HDFC and HDFC Bank on 4 April 2022 announced merger, in which shareholders of HDFC will receive 42 shares of HDFC Bank, for 25 shares held in HDFC. As a result, HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of HDFC Bank.
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