Home loans get cheaper; HDFC cuts lending rate by 0.15% for existing customers

New Delhi: Mortgage lender HDFC Ltd on Thursday  slashed lending rate by 0.15 percent for its existing customers.

The company reduced its Retail Prime Lending Rate (RPLR) by 0.15 percent 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 percent per annum, while for higher amounts it came down to 8.75 percent.

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