HDFC hikes Retail Prime Lending Rate by 0.25 per cent

Home loan borrowers from housing loan major HDFC will now have to pay 0.25 per cent more on their floating loan monthly instalments.

“HDFC has increased its Retail Prime Lending Rate, on which its Adjustable Rate Home Loans is benchmarked, by 0.25 per cent per year with effect from August 23, 2013,” the home loan provider said in a statement.

Some banks had revised their interest rate upwards as their borrowing costs shot up after the Reserve Bank of India increased its effective lending rates to suck out liquidity from the system.

Source: thehindubusinessline