The RBI had hiked its key rates in quick succession midway through 2018, before pausing as inflation ebbed. Photo: Pradeep Gaur/Mint
Mumbai: In what can act as a dampener for home loan borrowers, largest pure play mortgage lender HDFC on Monday announced a 0.10% hike in lending rates in the New Year 2019.
The move comes amid a system-wide hike in lending rates due to tight liquidity and as a reaction to previous rate hikes by the RBI.
“HDFC has increased its retail prime lending rate on which its adjustable rate home loans are benchmarked, by 0.10% with effect from January 1, 2019,” the company said in a statement to exchanges late this evening.
Country’s largest lender and HDFC’s prime competitor in the mortgage market SBI had hiked its marginal cost of borrowing based lending rate by 0.05% earlier this month.
The RBI had hiked its key rates in quick succession midway through 2018, before pausing as inflation ebbed.