HDFC raises lending rates by 0.1%

Ahead of the new year, mortgage lender HDFC on December 31 increased its retail prime lending rate (RPLR) by 10 basis points (bps), making housing loans costlier for new borrowers.

The new rates range from 8.90 to 9.15 percent on various slabs of loans.

HDFC has increased its RPLR, on which its adjustable-rate home loans are benchmarked, by 10 bps with effect from January 1, 2018, the mortgage lender said in a statement.

The move is likely to be followed by other lenders raising rates in the new year as the cost of funds is on the rise.