Housing Development Finance Corporation has increased loan rates by 75 basis points for new customers. It has hiked its prime lending rate (PLR) by 50 basis points to 14 per cent.
The 50 basis point hike in PLR will impact existing floating rate loan customers. The floating rate and fixed rate loan will be pegged at 11.25 per cent and 13.25 per cent, respectively.
HDFC has a home loan portfolio of around Rs 50,000 crore (Rs 500 billion) out of which 85 per cent are floating rate loans.