Big blow! HDFC’s home loan becomes costlier than before, interest rates increased by 5 basis points

This is the third increase in a month.

Home Loan EMI: HDFC has increased the Retail Prime Lending Rate (RPLR) for Home Loan by 5 basis points. This is the third increase in a month.

Country’s largest mortgage lenders Housing Development Finance Bank HDFC Limited (HDFC Ltd) has announced a hike in home loan interest rates. HDFC has home loan ,Home Loan) has increased the Retail Prime Lending Rate (RPLR) by 5 basis points. This is the third increase in a month. In the last month i.e. in May, HDFC had increased the interest rates twice. If a customer’s credit score is more than 780, then the minimum interest rate for him will be 7.05 percent, which was 7 percent earlier. The new rates have come into effect from 1 June 2022.

Let us tell you that HDFC has made this third increase in the last one month. The bank has increased a total of 40 basis points in one month. On May 1, HDFC had increased the interest rate by 5 basis points. After this, on May 7, there was an increase of 30 basis points.

The Reserve Bank of India (RBI) surprised everyone last month by increasing the repo rate by 0.40 percent. The new repo rate has now increased from 4 per cent to 4.4 per cent. After increasing the repo rate, all the banks started increasing the loan rates. There was an increase of 50 basis points in the Cash Reserve Ratio (CRR).

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