New Delhi, Business Desk. Mortgage financier Housing Development and Finance Corporation (HDFC) on Saturday increased its retail prime lending rate (RPLR), benchmarking its adjustable rate home loans, by 25 basis points with effect from August 1, 2022. HDFC said this in a stock exchange filing.
Home loan rates have increased many times
The mortgage lender said HDFC has increased its retail prime lending rate (RPLR) on housing loans, at which its Adjustable Rate Home Loans (ARHL) is benchmarked, by 25 basis points with effect from August 1, 2022. Earlier on June 9, the country’s largest housing finance company had increased the RPLR by 50 basis points. On June 1, it had increased by 5 basis points. At the same time, on May 2, it increased the rate by 5 basis points and on May 9. Thereafter, the home loan rates were increased by 30 basis points.
RBI may increase interest rates in the coming days
Let us tell you that it is being speculated that RBI may again increase the repo rate to prevent rising inflation. RBI may increase the repo rate by 0.35 to 0.50 percent. It is expected that after the interest hike by RBI, all the banks will again increase their interest rates. This will also increase the interest rates of bank loans. The burden of EMI on the people will also increase. However, people investing in FD will get the benefit. Due to the increase in interest, people doing FD will get more interest.
Credit: www.jagran.com /