Big setback for borrowers, HDFC home loan rate hiked by 10 bps; your dream home access gets costlier
This HDFC move comes in wake of an overall increase in interest rates in the financial system. Earlier on Saturday, Punjab National Bank (PNB) had increased its benchmark lending rates or MCLR for short-term loans by up to 0.2 per cent. The PNB lending rates are also effective from today.
Following in the footsteps of other lenders, mortgage lender HDFC today increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect. Image source: Reuters