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HDFC raises home loan interest rate by 30 basis points

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For borrowers with a credit score exceeding 750, the interest rate has been increased to 7% from 6.7%

For borrowers with a credit score exceeding 750, the interest rate has been increased to 7% from 6.7%

Mortgage lender HDFC Ltd. said it had increased its Retail Prime Lending Rate (RPLR) on housing loans – on which its Adjustable Rate Home Loans (ARHL) are benchmarked – by 30 basis points (bps) with effect from May 09. This comes in the wake of the Reserve Bank raising the benchmark repo rate by 40 bps.

For borrowers with a credit score exceeding 750, the interest rate has been increased to 7% from 6.7%. For women borrowers with less than ₹30 lakh loan, the rate has risen to 7.5% from 6.75%, while for others in this category, the rate has gone up to 7.1% from 6.8% previously.

For general borrowers with loans above ₹30 lakh up to ₹75 lakh, the interest rate has gone up to 7.35% from 7.05%. Women borrowers will pay 5 bps less.

Housing loans about ₹75 lakh will attract an interest rate of 7.45% compared with 7.15% earlier. Women borrowers will pay 5 bps less.



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