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HDFC raises home loan rates by 25 bps

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The country’s largest housing finance company, HDFC, has increased its retail prime lending rate on home loans by 25 basis points (bps) from August 1, 2022.
This is the fifth rate raise in two months. The lender has increased its benchmark rates by 115 bps (100 bps = 1%) this year.
Following this increase, the best home loans from HDFC will be available at 7. 8%, the highest in two years but still lower than the pre-pandemic level. Before this, the rates were 7. 55%.
With this increase, the EMI on a Rs 1 crore home loan with a 20-year tenure will go up from Rs 80,865 to Rs 82,404.
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