Loan Instalments To Rise As HDFC Hikes Lending Rates

 

HDFC Limited has hiked its benchmark lending rates

New Delhi: Mortgage lender HDFC Ltd raised its benchmark lending rate by 5 basis points on Sunday, raising EMIs for existing borrowers.

Other lenders, such as the State Bank of India and Bank of Baroda, have raised interest rates as well.

"HDFC raises its Retail Prime Lending Rate (RPLR) on Housing loans, against which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, effective May 1, 2022," the company said in a statement.

There has been no change in lending for new borrowers. The rates for new borrowers range from 6.70% to 7.150%, depending on credit and loan amount.

SBI and other lenders raised benchmark lending rates last month, causing EMIs to rise.