The annual credit policy of the Reserve Bank of India, with an increase in the repo rate, has led to an increase in lending rates.

The HDFC had earlier raised the rates by 25 basis points from February 1.

The SBI, another massive lender in the housing sector, has raised the interest rates by 75 basis points. This was after withdrawing its much publicised concessional teaser rates last month.

Other major banks which increased housing loan rates are Punjab National Bank, ICICI, Oriental Bank and Corporation Bank.

K. SUKUMARAN