HDFC's home loan customers will have to shell out more as EMIs (equated monthly installments), as it has increased its retail prime lending rate (RPLR) for housing loans by 50 basis points with effect from September 1, 2010. The new rates will be applicable across the board for new and existing home loan customers. HDFC has also jacked up the interest rates on new home loans. The rate on home loans up to Rs 30 lakh will be 9.25 per cent, between 30-50 lakh 9.5 per cent and above Rs 50 lakh 9.75 per cent.
The housing finance company is hiking its RPLR for the first time in two years since August of 2008. HDFC follows a three-month reset cycle for its floating rate loans and hence the change in RPLR will impact all the existing customers over the next three month period depending on their date of first disbursement.
This is in line with the current rates of interest in the economy, which have hardened in the last few months due to rising inflation and tightening of liquidity in the domestic market.
crackcrack| Company Name | CMP |
|---|---|
| LIC Housing Finance | 581.30 |
| Housing & Urban Dev. | 232.30 |
| Bajaj Housing Financ | 87.55 |
| Piramal Finance | 2017.85 |
| PNB Housing Finance | 1090.90 |
| View more.. | |
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