HDFC PLR Rate Hike: HDFC hikes rate by 25 bps, sixth time in two months | India Business News

MUMBAI: HDFC, the nation’s largest housing finance firm, has elevated its retail prime lending rate (PLR) on house loans by 25 foundation factors (100bps = 1 share level). This is the sixth rate hike by the company in two months. The lender has elevated its benchmark charges by 140bps this 12 months in line with the hike in repo charges.
In a submitting with the inventory exchanges, the company mentioned that it has elevated its retail PLR by 25bps with impact from August 9. The improve in PLR would imply that present debtors will see their charges rise. The charges for brand spanking new clients is more likely to be introduced quickly. A 25bps improve will improve the EMI on a Rs 1-crore house mortgage by Rs 1,539. In the banking sector, ICICI Bank, Canara Bank, Bank of Baroda and PNB have already raised floating charges by 50bps.

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