HDFC Hikes Home Loan...

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[A worker carrying building material at a construction site in Lucknow. HDFC on Thursday raised its retail prime lending rates by 75 basis points, the latest in a series of rate hikes by lenders after the RBI tightened policy. (Reuters/file) HDFC on Thurday announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers, who would now have to pay a minimum of 11.75 per cent interest on home loans. &quot;This is in line with the rates of interest in the economy, which have hardened due to rising inflation and shrinking liquidity in the domestic market,&quot; the lender said in a statement. The move by HDFC closely follows an up to one per cent rate revision by leading PSU banker Punjab National Bank, Axis Bank and J&amp;K Bank that made all home, corporate, personal and auto loans expensive. India's largest private sector lender ICICI Bank is expected to soon hike interest rates. Retail Prime Lending Rate (RPLR) or the floating home loan rates of HDFC will be hiked by 0.75 per cent with effect from August 1, it said in statement issued on New Delhi on Thurday. The increase in home loan rates &quot;will affect existing borrowers whose loans come up for re-pricing on or after August 1.&quot; The hike in floating home loan rates will impact the existing customers over the next three month period and fixed home loan rates will be unchanged at 14 per cent, HDFC said. (PTI)