HDFC hikes home loan rates for the first time since 2013

Housing Development Finance Corporation - India‚Äôs largest mortgage financier, has increased its benchmark prime lending rate (PLR) for the first time since December 2013, marking a shift in the interest rate trajectory. 

Mortgage rates for loans above Rs 30 lakhs have been raised by up to 20 basis points while those below Rs 30 lakhs, which include priority sector loans, have been increased by 5 basis points, HDFC said in a statement. One basis point is 0.01 percentage point. 

The cost of loans between Rs 30 lakhs and Rs 75 lakhs has been raised to 8.60% from 8.40%. Loans above Rs 75 lakhs will cost 8.70%, up from 8.50%. Loans up to Rs 30 lakhs would now cost 8.45%, up from 8.40%. Women borrowers will get a five-basis-point rebate for all the above slabs. 

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