HDFC reduces lending rates by 10 bps

MUMBAI Tue Feb 5, 2013 9:03pm IST

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010. REUTERS/Mukesh Gupta/Files

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010.

Credit: Reuters/Mukesh Gupta/Files

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Chopper Deal

Chopper Deal

India nears $2.5 billion deal for Boeing military helicopters.  Full Article 

Coal Scam

Coal Scam

CBI drops coal scam case against Kumar Mangalam Birla.  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage