Press Esc to close
Tuesday 29 July 2014
News updated at 12:05 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

HDFC cuts retail lending rate by 10 bps

Mumbai, Feb 5, 2013, DHNS:

Mortage major HDFC on Tuesday announced a reduction in its retail prime lending rates (RPLR) by 10 basis points, effective February 6, 2013.

Consequent to this rate cut, HDFC’s interest rates for floating rate home loans up to Rs 30 lakh stands revised to 10.15 per cent from the earlier rate of 10.25 per cent, while the floating rate for home loans above Rs 30 lakh has come down to 10.4 per cent from its earlier rate of 10.5 per cent. 

Similarly the rates of interest on existing loans to NRI’s have also been reduced, said an HDFC release.


Commenting on the rate cut, HDFC Managing Director Renu S Karnad said, "Over the past couple of months we have seen a drop in CRR and cut in repo rate which have resulted in our costs of funds at a portfolio level come down and as always HDFC has ensured that benefit is passed on to existing customers by way of a reduction in RPLR.”

Further, she said, "We have over the last few months also seen that the measures taken by the government has improved sentiment which will provide more confidence to customers wanting to buy a house.”

Go to Top

Photo Gallery
India's Devendro Laishram, left, throws a left jab at Sri Lanka's Madushan Gamage in the ...

India's Devendro Laishram, left, throws a left jab at Sri Lanka's Madushan Gamage in the ...

A Muslim family have their iftar (breaking of fast) meal on the last day of the holy fasting...

A Muslim family have their iftar (breaking of fast) meal on the last day of the holy fasting...

A Muslim woman offers evening prayers on the last day of the holy fasting month of...

A Muslim woman offers evening prayers on the last day of the holy fasting month of...

India's Mandeep Jangra, right, lands a punch on Jamaica's Kestna Davis during their men's...

India's Mandeep Jangra, right, lands a punch on Jamaica's Kestna Davis during their men's...

England's Sam Robson, left, fields the ball beside four other slips ...

England's Sam Robson, left, fields the ball beside four other slips ...

A Muslim woman performs ablution before having iftar meal on the last day of the holy month...

A Muslim woman performs ablution before having iftar meal on the last day of the holy month...

Police take top Maoist leader Sabyasachi Panda while taking him to court in Berhampur...

Police take top Maoist leader Sabyasachi Panda while taking him to court in Berhampur...

The launch of Science Express biodiversity special (SEBS) train in New Delhi...

The launch of Science Express biodiversity special (SEBS) train in New Delhi...

England's Ian Bell hits a shot during the second day of the third cricket test...

England's Ian Bell hits a shot during the second day of the third cricket test...

Bollywood music director Anu Malik, actor Sonam Kapoor, filmmaker Farah Khan and Pakistani...

Bollywood music director Anu Malik, actor Sonam Kapoor, filmmaker Farah Khan and Pakistani...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523