HDFC raises lending rate by 5 bps

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Mumbai: HDFC Bank, India’s largest private sector bank, has raised its lending rates by 5 basis points (0.05%) effective from today. With this hike, the EMIs (Equated monthly Instalments) of existing home loan customers will rise.

“HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from May 1, 2022” the bank said in a statement.

Last month two public sector banks, SBI and Bank of Baroda has also raised lending rates.

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