The housing finance major has increased its Retail Prime Lending Rate (RPLR) on Housing Loans by 30 basis points from 9 May 2022.
"HDFC increases its Retail Prime Lending Rate (RPLR) on Housing Loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked by 30 basis points with effect from May 09, 2022," Housing Development Finance Corporation (HDFC) said in a statement on Saturday.The housing finance major's standalone net profit rose 16.37% to Rs 3700.32 crore on 5.13% increase in total income to Rs 12308.46 crore in Q4 March 2022 over Q4 March 2021.
Shares of HDFC fell 2.84% to Rs 2151.35 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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