Country's premier home loan financier, Housing Development Finance Corporation [Get Quote<http://money.rediff.com/money/jsp/quote_process.jsp?query=housing development finance corporation ltd>] on Tuesday slashed its lending rates by 0.5 per cent effective.
With this reduction, HDFC's [Get Quote<http://money.rediff.com/money/jsp/quote_process.jsp?query=hdfc bank ltd> ] Retail Prime Lending Rate stands at 14 per cent. The lender has lowered its RPLR by one per cent since December 2008. "We are now seeing a reduction in the costs on a portfolio level and as in the past HDFC has ensured that the reduction in cost is passed on to existing customers by way of a reduction in RPLR," HDFC joint managing director Renu Sud Karnad said. The benefit of reduction in RPLR will accrue to all existing floating rate customers over the period of next three months based on their respective reset dates, HDFC said. The home loan lender has seen its costs coming down owing to improved operational efficiency and good quality portfolio, HDFC said. "HDFC continues to efficiently manage its liabilities and reprice its debts. In the current environment there is a time gap between the reduction in the marginal cost of funds and the portfolio cost," HDFC said. http://business.rediff.com/report/2009/mar/24/hdfc-cuts-lending-rate-by-zero-point-5-percent.htm --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
