HDFC home loans EMIs to rise after RPLR hike by 50 bps. Check new rates here | Mint
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Business News/ Companies / News/  HDFC home loans EMIs to rise after RPLR hike by 50 bps. Check new rates here
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HDFC home loans EMIs to rise after RPLR hike by 50 bps. Check new rates here

HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from June 10, 2022.

Currently, on its website, the loan slab linked with RPLR, ranges from 7.05% to 7.55%.Premium
Currently, on its website, the loan slab linked with RPLR, ranges from 7.05% to 7.55%.

NBFC-giant HDFC on Thursday hiked the retail prime lending rate (RPLR) on housing loans by 50 basis points with effect from 10th June. The latest hike comes after RBI raised the policy repo rate by 50 basis points to 4.9% to tackle soaring inflation. With that, HDFC home loan EMIs are set to go up.

In its regulatory filing, HDFC said it "increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from June 10, 2022."

Currently, on its website, the loan slab linked with RPLR, ranges from 7.05% to 7.55%.

However, the current loan slab will be changing from tomorrow onward.

From 10th June, as per HDFC, the interest rate on a credit score of 800 plus will be at 7.55% from the currently charged 7.05%.

For home loans up to 30 lakh, the interest rate will rise to 7.65% from 7.15% for women, while the rate will be 7.70% from the current 7.20%.

Above 30 lakh to 75 lakh home loans, HDFC will levy a 7.90% interest rate from the present 7.40% for the women category. While the rate will be 7.95% on others from the presently charged 7.45%.

HDFC interest rate will be 8% on home loans above 75 lakh for women from the current 7.50%, and the rate will be 8.05% from the present 7.55%.

Women's home loan EMIs will be lesser by 5 basis points compared to other categories on their home loans.

In its bi-monthly monetary policy on Wednesday, RBI hiked the policy repo rate by 50 basis points to 4.9%. RBI also remained focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.

On BSE, HDFC shares closed at 2265.55 apiece marginally up from the previous closing of 2259.60 apiece.

HDFC is the largest NBFC in terms of market cap on stock exchanges. As of June 9, HDFC has been ranked the ninth-largest company with a market cap of 4,11,022.51 crore on BSE.

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Published: 09 Jun 2022, 10:14 PM IST
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