HDFC hikes home loan rates for existing customers effective May 9

HDFC on Saturday announced that it would raise its Retail Prime Lending Rate (RPLR) by 30 basis points.

It would lead to an identical hike in home loan rates for exiting customers.

The hike will come into effect from May 9.

It had recently increased its benchmark lending rate by 5 basis points

This move comes at a time when the RBI hiked the policy rate and CRR to check prevailing high inflation and likelihood of further hike.