MUMBAI Housing Development Finance Corporation (HDFC) (HDFC.NS), India's biggest housing finance company, will reduce its prime lending rate by 10 basis points starting February 6, it said on Tuesday.
This will bring down HDFC's floating interest rates to 10.15 percent on loans of up to 3 million rupees and 10.40 percent on loans of more than 3 million rupees, it said in a statement.
HDFC's move follows a recent decision by the RBI to lower its key policy rate for the first time in nine months by 25 basis points to 7.75 percent to help support an economy set to post its slowest annual growth rate in a decade.
(Reporting by Aditi Shah; Editing by Mark Potter)
Trending On Reuters
SpiceJet is in talks with Boeing and Airbus to buy more than 150 planes, the airline’s chairman said on Sunday, predicting he would decide which manufacturer to place the order with by the end of March 2016. Full Article