MUMBAI (Reuters) - 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
Shock turned to anger in Nepal on Tuesday as some of the tens of thousands stricken by a devastating earthquake, which killed more than 4,000 people, expressed frustration at what they said was their government's slow response to the crisis. Full Article