HDFC PLR Rates, HDFC PLR – Dec 2018


5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current PLR rate of HDFC is 16.75%, which the bank fixes periodically based on its internal cost of funds and the current interest rates in the economy. HDFC benchmarks its interest rates for home loan and other loans to PLR rates.

PLR 16.75% * History

HDFC Interest Rates

HDFC Interest Rates
Home Loan Interest Rates 8.80% * Floating Detail
Loan Against Property Rates 9.55% * Floating Detail
Fixed Deposit Interest Rates 7.70% to 7.70% Detail
RD Interest Rates 7.10% Detail


  • HDFC decides and fixes its own RPLR from time to time.
  • RBI does not decide the PLR Rate of any NBFC or HFC. RBI only announces the repo rate, which influences the cost of raising new funds for the housing finance company. HFCs may or may not decide to change their PLR rate in response to changes in the repo rate.
  • Effective 1st April 2016, banks has been directed by RBI to fix their loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the banks fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. However, Housing Finance Companies and NBFCs continue to offer loans at PLR rates.
  • HDFC typically offers loans benchmarked at a discount to the PLR to arrive at its lending rate.

HDFC PLR Rate Trend

Date RBI Repo Rate HDFC PLR Rate
01st Oct 18 16.75% 0.4%
01st Aug 18 0.25%
06th Jun 18 0.25%
05th Apr 18 16.35% 0.2%
02nd Aug 17 0.25%
19th Jan 17 16.15% 0.15%
04th Oct 16 0.25%
05th Apr 16 0.25%
05th Oct 15 16.30% 0.25%
29th Sep 15 0.5%
02nd Jun 15 0.25%
10th Apr 15 16.55% 0.2%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
01st Dec 13 16.75% 0.1%
29th Oct 13 0.25%
20th Sep 13 0.25%
24th Aug 13 16.65% 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
05th Feb 13 16.40% 0.1%
29th Jan 13 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
01st Aug 11 16.50% 0.5%
26th Jul 11 0.5%
  • MyLoanCare regularly tracks RBI repo rates and PLR rates of HDFC to give past trend in the change in HDFC PLR rates as compared to the changes in the repo rates. Any borrower, who plans to take a PLR based loan should compare the past trends of PLR and MCLR rates of HFCs and banks to ensure that the lender they choose is prompt in revising their PLR or MCLR rates.
  • Based on an analysis and comparison of PLR rate trends of HDFC Current PLR Rate of HDFC is 16.75%, which was last revised on 01st Oct 18. On the other hand, current RBI Repo Rate is 6.50% which was last revised on 05th Dec 18.
  • It is not mandatory for HDFC to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

HDFC Interest Rates- Benchmarked to PLR Rates

  • HDFC PLR rate is notional interest rate to which interest rate on HDFC’s floating rate loans is benchmarked. Typically, all loans by HDFC are priced at a discount to the HDFC PLR.
  • Applicable rate of interest on all HDFC floating rate loans, such as home loans, loans against property, business loans, SME loans linked to PLR will vary with changes in its PLR from time to time.
  • Sometimes, HDFC may have different benchmark PLR’s by customer segment and by product. E.g., it may have one PLR for retail and another one for corporate.

HDFC Home Loan Interest Rate and PLR

  • Every floating rate home loan sanctioned by HDFC is benchmarked to its PLR rate.
  • The applicable rate of interest on a floating rate home loan will consist of two parts – the applicable PLR and a spread or margin (which is typically negative in case of NBFC’s and HFC’s).
  • Your loan from HDFC will be repriced periodically depending upon change in PLR. So, a home loan from HDFC will be repriced every time the PLR of changes. Say, you take a loan at PLR minus 6.75% spread when the PLR is 16.75%. This loan will initially be priced at 10.00%. Whenever HDFC changes in PLR rate, the applicable rate of interest will change correspondingly. So in the same illustration, if HDFC decreases its PLR by 0.5%, the loan interest rate for existing borrowers will also decline by 0.5% and new applicable interest rate on the loan will be 9.50%.

Compare PLR Rate Movement

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    About HDFC

    • HDFC's registered office is located at HDFC LTD, 4th, Ramon House, 169, H T Parekh Marg, Churchgate, Mumbai-400020, Backbay .
    • HDFC's management is led by its CEO Mr.Keki M. Mistry.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    HDFC News - Dec 2018
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