HDFC Bank gave a shock to the customers! Home loan interest rate increased, here are the details

0
106

Let us tell you that the meeting of the six-member Monetary Policy Committee (MPC) of RBI will be held from April 3 to April 5, which will be the first meeting of the new financial year 2024-25.

- Advertisement -

HDFC Bank latest news: Just before the meeting of the Monetary Policy Committee (MPC) of the Central Reserve Bank, HDFC Bank has given a big shock to the customers. Private sector giant HDFC Bank has increased its repo-linked home loan interest rates by 10-15 basis points. With this increase, the interest rate has come in the range of 8.70 percent to 9.8 percent.

What did the bank say on the merger

The bank clarified on its website that the change in home loan rate is due to the merger of HDFC Bank and HDFC on July 1, 2023 and it will no longer be linked to the Retail Prime Lending Rate (RPLR). The bank has clarified that the new repo linked interest rate is applicable to new customers. Old customers can continue with RPLR.

Let us tell you that the meeting of the six-member Monetary Policy Committee (MPC) of RBI will be held from April 3 to April 5, which will be the first meeting of the new financial year 2024-25.

What interest rate of which bank?

The current home loan interest rates of ICICI Bank range between 9 percent to 10.05 percent. State Bank of India home loan rates range from 9.15 percent to a maximum of 10.05 percent. At the same time, Axis Bank is offering comparatively lower interest rates on home loans to its customers ranging from 8.75 to 9.65 percent. The initial interest rate of Kotak Mahindra Bank home loan is 8.70 percent.

When and how many meetings of the Monetary Policy Committee

RBI announced the schedule of bi-monthly meetings of the Monetary Policy Committee (MPC) for the new financial year (2024-25). The first meeting will be held from April 3 to 5. The next meeting will begin on June 5 while the monetary review will be announced on June 7.

After this, the next meeting will be held from 6th to 8th August, then from 7th to 9th October, then from 4th to 6th December and the last meeting will be held in February. It will take place from 5th to 7th February.

LPG cylinder Price : ₹300 discount on LPG cylinder from April 1, crores of people benefited, check details

- Advertisement -