A key player in the home loan market, HDFC said today it would hike housing loan rates by another 0.50 per cent this month-end or early March.
"After the CRR hike, our margins, presently at around 2 per cent, are under pressure and we will raise the interest rate to maintain that spread," HDFC Chairman Deepak Parekh said.
This would be the second time within a month that HDFC would be raising home loan rates. Earlier this month, it raised the rates by 0.5 per cent after the RBI announced a 0.25 per cent hike in overnight lending rate, repo, in its monetary review. ICICI Bank had also raised home and car loans by 1 per cent then.
(Source- TRIBUNE)
