HDFC Cuts Housing Loan Rate by 0.2%

Housing Development Finance Corporation (HDFC) reduced its retail prime lending rate (RPLR) by 0.2% basis points to 9.9%, with effect from April 13, 2015

Besides, HDFC has also revised downwards its deposit rates across various maturities.

After the Reserve Bank of India’s (RBI) monetary policy earlier this week, Mr. Keki Mistry, vice-chairman & CEO, HDFC, had said, “… as I can not talk in advance of the asset liability committee, my sense is that, yes, there is a possibility that we could also look at a rate cut.”

Following RBI’s policy that urged transmission of successive repo rate cuts, State Bank of India (SBI) and HDFC Bank slashed their base rate or the rate below which they can not lend by 0.15% to 9.85% ICICI Bank cut rates by 0.25% to 9.75%.

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