Country’s largest mortgage lender, HDFC, on Monday cut benchmark lending rate on housing loans by 0.25 per cent to 9.65 per cent, a move which will lower the EMI for borrowers.
The effective home loan rate for new customers would be 9.65 per cent, while for women borrowers, it would be 9.60 per cent, HDFC said in a statement.
The existing rate for new customers is 9.9 per cent, whereas for women, it is 9.85 per cent.
This reduction, effective tomorrow, would benefit all customers, it added The reduction in the Retail Prime lending Rate (RPlR) will also be applicable on loans to Non-Resident Indians (NRIs)/ PIO card holders, the statement said.
HDFC had recently made similar reduction in its deposit rates across all maturities.