Hey friends, HDFC new home loan rate has increased the interest rate of its home loan. After all, how much is this increase? Let me tell you that there has been an increase of 0.30 percent.
HDFC new home loan rate - Hdfc home loan nayi byaj dare
HDFC new home loan rate: Inflation is going to hit the customers who have taken home loans once again. Their EMI is going to get costlier. And if you are thinking of buying a home for yourself by taking a home loan, then you will have to pay more interest. Actually, the country's largest housing finance company HDFC has announced to increase the interest rates on home loans again.
HDFC has announced a 30 basis point increase in the Retail Prime Lending Rate (RPLR) on housing loans. The new rates of HDFC home loans (HDFC new home loan rate) will come into effect from 9 May 2022. A week ago also HDFC had increased the rate by 5 basis points. If we add this, then HDFC has increased the interest rates of home loans by a total of 35 basis points.
Retail prime Lending rate meaning
RPLR means Retail Prime Lending, which means small loans, big loans like HDFC has made it clear that people having above 750 credit score, which means these people are financially strong, this new rule will be applicable on them only.
Effect of RBI increasing repo rate
After RBI's decision to increase the repo rate, housing finance companies and banks have started making loans expensive.
And the biggest brunt of costly loans will be faced by those people who have recently bought their homes by taking home loans from a bank or housing finance company. Because of the HDFC new home loan rate.
RBI has decided to increase the repo rate by 40 basis points which has now become 4.40%. Let's see how much impact HDFC's 30 basis point interest rate hike on home loans will have on your pocket.
This 0.30 percent interest rate will be applicable to those whose credit score is above 750.
Those who have loans up to Rs. 30 lakh earlier had to pay Rs. 6.75 to women and Rs. 6.80 to others but now as per the new rates (HDFC new home loan rate) women will have to pay Rs. 7.05 and others will have to pay Rs. 7.10
And those who have income between Rs 30 lakh to 75 lakh, earlier they had to pay 7.00 percent to women and 7.05 percent to others but now as per the new rates (HDFC new home loan rate) women will have to pay 7.30 percent and others will have to pay 7.35 percent.
And those having loan amount above Rs. 75 lakh earlier had to pay 7.10 per cent to women and 7.15 per cent to others but now as per the new rates (HDFC new home loan rate) women will have to pay 7.40 per cent interest and others will have to pay 7.45 per cent interest.
It is important to note that these new rates will be applicable to both salaried and non-salaried people (HDFC new home loan rate).