New Delhi: HDFC Ltd has cut benchmark lending rates by 5 basis points for the new as well as existing borrowers of home loan.
“HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its adjustable rate home loans are benchmarked by 5 basis points with effect from 6 January 2020,” HDFC Ltd said in a statement.
The new rates will be between 8.20 percent and 9 percent. The move by HDFC Ltd comes at a time when the Reserve Bank of India has kept the Repo Rate unchanged at 5.15 percent in its monetary policy review held in December 2019.
Even State Bank of India had cut its external benchmark-based rate by 25 basis points earlier this week.