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 standalone profit was Rs 56.7 billion, a major jump from Rs 17 billion in the previous year’s December quarter. The company’s loan book grew 19 per cent year-on-year to Rs 3.41 trillion in December 2017.
HDFC’s stock closed at Rs 1,835.1 on the National Stock Exchange, up 0.33 per cent from the previous day’s close.