HDFC to raise mortgage interest rates by 0.25%

Aug 23, 2013, 09.19 AM IST

The rise in interest rates comes after the RBI introduced monetary tightening measures this quarter to bolster the rupee, which fell to a record low against the dollar on Thursday

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HDFC to raise mortgage interest rates by 0.25%

The rise in interest rates comes after the RBI introduced monetary tightening measures this quarter to bolster the rupee, which fell to a record low against the dollar on Thursday

Like this story, share it with millions of investors on M3

HDFC to raise mortgage interest rates by 0.25%

The rise in interest rates comes after the RBI introduced monetary tightening measures this quarter to bolster the rupee, which fell to a record low against the dollar on Thursday

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Housing Development Finance Corp Ltd (HDFC), India's biggest mortgage lender, said on Thursday it will increase its retail prime lending rate by 0.25 percent, effective Friday.

Earlier on Thursday, ICICI Bank , the country's second-largest lender, became the latest bank to raise interest rates, lifting its base rate by 25 basis points to 10 percent.

The rise in interest rates comes after the RBI introduced monetary tightening measures this quarter to bolster the rupee, which fell to a record low against the dollar on Thursday.

HDFC said it had reduced its retail prime lending rate by 10 basis points in February this year and, therefore on a net basis the rate will be higher by 15 bps since January.

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