HDFC cuts lending rate by 15 bps for existing customers

HDFC cuts its Retail Prime Lending Rate (RPLR) by 15bps effective Thursday, the reduction will also be applicable on loans to NRIs/ PIO’s Card holders


Interest rate on loans up to Rs75 lakh was reduced to 8.7% per annum, while for higher amounts it came down to 8.75%. Photo: Pradeep Gaur/Mint
Interest rate on loans up to Rs75 lakh was reduced to 8.7% per annum, while for higher amounts it came down to 8.75%. Photo: Pradeep Gaur/Mint

New Delhi: Mortgage lender HDFC Ltd on Thursday slashed lending rate by 15 basis points (bps) for its existing customers.

The company reduced its Retail Prime Lending Rate (RPLR) by 15bps effective Thursday, HDFC Ltd said in a statement. The reduction in the RPLR will also be applicable on loans to Non-Resident Indians (NRIs)/ PIO’s Card holders, it said. It had already reduced the lending rate for the new borrowers earlier this month.

Interest rate on loans up to Rs75 lakh was reduced to 8.7% per annum, while for higher amounts it came down to 8.75%.

A woman applicant gets a discount of 0.05% in interest rate.

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