HDFC hikes retail prime lending rate by up to 20 basis points to 16.35%

HDFC's standalone profit was Rs 56.7 billion, a major jump from Rs 17 billion in the previous year's December quarter

HDFC raised its retail prime lending rate (RPLR) by up to 20 basis points to 16.35 per cent on Monday. Home loan rates are calculated by reducing the spread from the RPLR.

HDFC’s revised home loan interest rates now range from 8.4 per cent to 8.7 per cent, where as State Bank of India’s home loan rates are between 8.35 per cent to 8.9 per cent and ICICI Bank’s range from 8.45 per cent to 10.2 per cent. 

Keki Mistry, vice-chairman and chief executive officer, HDFC, said the revision in interest rate reflects the rise is costs of funds.

HDFC’s