Money & Banking

HDFC slashes prime lending rates by 20 bps

Our Bureau Mumbai | Updated on June 12, 2020 Published on June 12, 2020

Housing finance company HDFC has cut its retail prime lending rate on housing and non-housing loans, on which its adjustable rate home loans are benchmarked, by 20 basis points.

“The change will benefit all existing HDFC retail home loan and non-home loan customers,” HDFC said in a statement, adding that this is effective Wednesday.

This comes just days after State Bank of India cut its marginal cost of funds based lending rate (MCLR) by 25 basis points across all tenors.

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Published on June 12, 2020
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