HDFC, on Tuesday, announced a reduction in its retail prime lending rate (RPLR) by 10 basis points, effective February 6.
Post this reduction, HDFC’s interest rates for floating rate home loans will be 10.15 per cent per annum for loans up to Rs.30 lakh and 10.40 per cent for loans above Rs.30 lakh.
Similarly, the rates on existing loans to NRI’s have been reduced, HDFC said in a statement.
Bank of Maharashtra
Bank of Maharashtra cut its benchmark lending rate by 0.25 percentage points to 10.25 per cent from 10.50 per cent, making loans, including home and corporate, cheaper for borrowers with effect from February 9, the bank said in a filing to the Bombay Stock Exchange.
Vijaya Bank cut its base rate by 25 basis points to 10.20 per cent with immediate effect. The revised base rate will be effective from today [Tuesday], a bank statement said.