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.