Housing Development Finance Corporation (HDFC), the country’s largest housing finance company, has raised its benchmark lending rates by 0.25% with effect from August 23, 2013, making home and auto loans costlier. The mortgage lender has increased its retail prime lending rate (RPLR) by 0.25%. As a result, interest on housing loans of up to Rs 30 lakh will go up to 10.40% from the existing 10.15%. The interest rate on housing loans exceeding Rs 30 lakh will rise to 10.65%.
HDFC has reported 17.09% rise in its net profit after tax at Rs 1173.10 crore for first quarter ended June 30, 2013 as compared to Rs 1001.91 crore for the same quarter in the previous year. Total income of the company has increased by 12.60% at Rs 5564.94 crore for quarter under review as compared to Rs 4942.31 crore for the quarter ended June 30, 2012.
