HDFC Ltd reduces home loan rate by 15 basis points

Housing Development Finance Corporation Limited (HDFC) announced that it has made home loans cheaper by reducing interest rates by 15 bps.

In a BSE filing made on Tuesday after the market hours, the company informed that it has reduced its retail prime lending rate (RPLR) on housing loans, on which, its adjustable rate home loans (ARHL) are benchmarked by 15 basis points, with effect from April 22, 2020.

Following this, the new interest rates of the company will now range between 8.05-8.85 per cent. HDFC added that it will benefit all existing HDFC retail home loan customers.

HDFC Ltd provides housing finance in India as well as construction finance to real estate developers, lease financing facilities to companies and development authorities for infrastructure & other assets.

At the time of market closing on Wednesday, the stock of HDFC Ltd was trading at Rs 1,663.15, down by 0.37 per cent against its previous close of Rs 1,669.30. Its 52-week high is Rs 2,499.65 and its 52-week low is Rs 1,473.10 on BSE.