HDFC lowers lending rate by 0.15% for existing customers

Mortgage lender HDFC Ltd on Thursday slashed lending rate by 0.15 per cent for its existing customers.

The company reduced its Retail Prime Lending Rate (RPLR) by 0.15 per cent effective today, HDFC Ltd said in a statement.

The reduction in the RPLR will also be applicable on loans to Non-Resident Indians (NRIs)/ PIO's Card holders, it said.

It had already reduced the lending rate for the new borrowers earlier this month. Interest rate on loans up to Rs 75 lakh was reduced to 8.7 per cent per annum, while for higher amounts it came down to 8.75 per cent.

A woman applicant gets a discount of 0.05 per cent in interest rate.