HDFC Bank Alert:
Days after the Reserve Bank of India (RBI) hiked its repo rate for the fifth time in seven months, Housing Development Finance Corporation Limited (HDFC) on Monday revised its Retail Prime Lending Rate (RPLR) on home loans.
Did. HDFC said it would hike its RPLR on housing loans by 35 basis points, on which its Adjustable Rate Home Loans (ARHL) is benchmarked.
Earlier this month, the RBI increased the repo rate by 0.35 percent from 5.9 percent to 6.25 percent.
HDFC Ltd offers low home loan interest rates starting at 8.20 percent per annum (for those with a credit score above 800), the statement said.
For those who do not have the required credit score, the interest rate may vary between 8.40 percent to 8.90 percent.
It was said, ‘This interest rate is applicable on Home Loans, Balance Transfer Loan, House Renovation, and Home Extension Loan.
HDFC offers an adjustable-rate loan known as a floating rate loan and a TruFixed loan wherein the interest rate on
the home loan remains fixed for a specified period (first two years of the entire loan tenure), After which it converts to an adjustable-rate loan.
