Taking home loan from HDFC becomes expensive; ICICI Bank, PNB also increased interest rates

HDFC Home Loan Interest Rate: Many banks including HDFC, ICICI Bank and PNB have increased the interest rates on home loans. HDFC has announced an increase of 0.05 percent in the benchmark lending rate. With this, there will be an increase in the EMI of new and existing borrowers of HDFC. In this way, HDFC has increased the RPLR for the third time within a month. In May, the bank had increased the interest rate by a total of 0.35 percent.

Company issued statement

The statement issued by HDFC said, “HDFC is increasing the Retail Prime Lending Rate (RPLR) on housing loans by 0.05 percent. This change will be effective from June 1, 2022.”

ICICI Bank and Punjab National Bank (PNB) have also announced an increase in the Marginal Cost Based Lending Rate (MCLR).

PNB increased MCLR so much

Public sector Punjab National Bank (PNB) has increased the MCLR by 0.15 percent. According to the website of PNB, this increase in rate will be effective from June 1.

ICICI Bank also increased MCLR

ICICI Bank has also revised the marginal cost of funds based lending rate. According to the information given on the bank’s website, the new rates have become effective from June 1, 2022.

Apart from these, Bank of India has also increased the marginal cost of funds based lending rate. This change has also come into effect from June 1, 2022.

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