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EMIs to become costlier as bank hikes interest rate

Mumbai: The leading housing finance lender in the country, HDFC hiked its lending rate. HDFC hiked the interest rate by 50 basis points. The move would increase EMIs for housing loans given  by the firm. HDFC took this decision as Reserve Bank of India (RBI) hiked the repo rate by 50 basis points yesterday.

‘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,’ said a statement issued by HDFC.

Also Read; India’s fiscal deficit touches Rs 5.42 trillion 

This is the 7th  rate increase undertaken by HDFC in the last 5 months.




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