HDFC Raises Interest Rate By 0.50%, EMIs To Increase

The move would increase EMIs for housing loans by the firm.

Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation.

The move would increase EMIs for housing loans by the firm.

"HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement.

This is the seventh rate increase undertaken by HDFC in the last five months.