HDFC raises lending rate by 20 bps following Reserve Bank rate hike

For women borrowers, loans up to Rs 3 mn will be available at 8.70% and above Rs 3 million at 8.8%

HDFC

HDFC

Corp (HDFC) on Thursday announced increasing its lending rates by 0.20 percentage points, a day after the RBI hiked the policy rate.

has increased its (RPLR), on which its (ARHL) are benchmarked, by 20 basis points, with effect from August 1, 2018,” the country’s largest said in a regulatory filing.

For women borrowers, up to Rs 3 million will be available at 8.70 per cent and above Rs 3 million at 8.8 per cent.

For other customers, the rate will be 5 basis points extra.
 

In in its third bi-monthly monetary policy statement for 2018-19, the Reserve Bank increased the short-term lending rate by 25 basis points to 6.50 per cent on inflationary concerns.

HDFC’s shares closed at Rs 1,932.65 apiece on the BSE, down 1.9 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, August 02 2018. 23:36 IST

View Source: https://www.business-standard.com/article/pti-stories/hdfc-raises-lending-rate-by-20-bps-118080201436_1.html

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