HDFC increases interest rates by 5 basis points

HDFC consumers will pay a higher interest rate on loans as HDFC increased its Retail Prime Lending Rate (RPLR) on housing loans on which its Adjustable Rate Home Loans (ARHL) are benchmarked by 5 basis points with effect from Sunday.

The interest rate change will be effective only for existing customers. There will be no change in the interest rate for new customers, said HDFC in a release.

Earlier in the last month, the State Bank of India (SBI) raised the marginal cost of funds based lending rates (MCLR) by 10 basis points (bps) across tenures.

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