HDFC cuts lending rate by 15 basis points


HDFC slashed its lending rate by 15 basis points amid a gradual decline in cost of borrowing across the system. The move comes after a few lenders, including the country’s biggest lender State Bank of India, trimmed their lending rate.

“HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 15 basis points (bps), with effect from April 22, 2020,” the company said in a statement. The change will benefit all existing HDFC retail home loan customers, it said.

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