HDFC cuts interest rate by 5 basis points with effect from January 2020

Mortgage lender HDFC has cut its retail prime lending rate by 5 basis points (bps) with effect from January 2020. This will benefit all the existing HDFC customers, the company said in an exchange filing.

 

For all salaried class borrowers with loan up to Rs 30 lakh, the effective rate will be 8.10 per cent, while for borrowers with loan amount greater than Rs 30 lakh and up to Rs 75 lakh, the effective rate will be 8.35 per cent. Similarly, for customers with loans above Rs 75 lakh, the effective rate will be 8.45 per cent. For women borrowers in each loan category, the effective rate is 5 bps lower.