HDFC hikes home loan rates by 30 bps
HDFC has raised its retail prime lending rate (RPLR) on home loans by 30 basis points (bps). The hike comes into effect from 9 May 2022. With the latest move, HDFC has joined the list of lenders, including ICICI Bank, Bank of Baroda, RBL Bank, who have raised interest rates consequent to the 40 bps repo rate hike by the Reserve Bank of India (RBI) in an off-cycle meeting. Earlier this week, ICICI Bank raised its external benchmark lending rate by 40 bps to 8.10 per cent, while Bank of Baroda has raised its repo linked lending rate to 6.90 per cent. RBL Bank’s repo linked lending rate is now 9.50 per cent.