Cheaper home loans: HDFC cut retail prime lending rate for existing customers

Housing Development Finance Corp (HDFC) on Thursday announced that it has reduced its prime lending rate for existing customers by 15 basis points. 

Effective from today, the existing women borrowers will see their home loans reduced to PLR of 8.65% while for other the interest rate will be 8.7%. "This rate of interest is applicable for cases where a woman is an owner or co-owner and an applicant or co-applicant for loans up to Rs 75 lakhs," the company said. 

The company said that this interest rate cut will benefit all existing customers. 

On January 3, following the State Bank of India, the company had announced that these rate of interest will be applicable only for new borrowers.