HDFC reduces prime lending rates on home loans by 10 bps from August 1

Mortgage lender HDFC has cut its retail prime lending rates on housing loans by 10 basis points (bps) with effect from August 1 for all existing customers. 

For new customers, interest charged on loans up to Rs 30 lakh will be 8.6 per cent from August 1. Similarly, for loans above Rs 30 lakh and up to Rs 75 lakh, interest rate charged will be 8.85 per cent and for loans above Rs 75 lakh, the interest charged will be 8.9 per cent. 

For women borrowers, there is an extra 5 bps discount in each category of loans. Union Bank cuts MCLR