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Home loan to get costlier: HDFC raises retail prime lending rate by 10 bps

With the revision, PNB's overnight marginal cost of funds based lending rate (MCLR) now stands at 8.2 per cent as against 7.9 per cent

Press Trust of India  |  Mumbai 

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Ahead of the Reserve Bank's announcement, mortgage lender HDFC Monday increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect.

The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.

On Saturday, state-run Punjab National Bank had increased its benchmark lending rates or for by up to 0.2 per cent, effective Monday.

With the revision, PNB's overnight marginal cost of funds based lending rate (MCLR) now stands at 8.2 per cent as against 7.9 per cent.

The for a one-month tenor were raised to 8.10 per cent from 8.05 per cent earlier.

In the fourth review to be announced on October 5, RBI is expected to raise by 25 bps.

An increase in the will be driven mainly on concerns over inflation and a weak rupee.

First Published: Mon, October 01 2018. 16:25 IST
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