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HDFC hikes retail prime lending rate on housing loans by 25 bps from today

HDFC has raised the key lending rate for home loans six times since May this year, with the previous hike being announced on August 1.

August 09, 2022 / 07:35 IST
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Mortgage financier Housing Development and Finance Corporation (HDFC) has announced a quarter of a percentage hike in the retail prime lending rate (RPLR) on housing loans.

The benchmark lending rate for home loans has been raised by 25 basis points, as per a regulatory filing. The new rate will come into effect from August 9, HDFC said.

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"HDFC increases its retail prime lending rate (RPLR) on Housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 25 basis points, with effect from August 9, 2022," it informed the stock exchanges.

The announcement comes around a week after HDFC raised the RPLR by 25 bps, with effect from August 1. The key lending rate has been increased six times since May this year. It has been cumulatively hiked by 140 bps.