HDFC increases home loan rates

HDFC increases home loan rates

 Mortgage major HDFC has hiked interest rate on home loans of upto Rs 30 lakh to 10.5 per cent and above Rs 30 lakh to Rs 75 lakh to 10.75 per cent with immediate effect.

The 10 basis points (bps) rise in the interest rate comes on the back of cost of funds adjustment, said HDFC Vice Chairman & CEO Keki Mistry here. However, Mistry sees rates going down in 2014 when food prices will see a substantial decline owing to a good monsoon season.

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