HDFC Rates, HDFC PLR – Mar 2017

HDFC Rate – Current Rate, Past Trend

Last Updated 22nd Mar 2017
PLR 16.15% * History
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HDFC Interest Rates
Home Loan Interest Rates 8.50% * Floating Detail
Loan Against Property Rates 10.00% * Floating Detail
Fixed Deposit Interest Rates 7.40% to 7.40% * Detail
  • This is a notional interest rate to which interest rate on HDFC’s floating rate loans is benchmarked
  • Current HDFC PLR is 16.15%, which was last updated by HDFC on 19th Jan 17 as per information available with MyLoanCare.
  • 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
  • HDFC decides its own PLR from time to time
  • The RBI or NHB do not mandate or decide the PLR of any NBFC or HFC. Since NBFC’s typically have a higher cost of raising funds and higher cost of operations than those of banks, mostly they tend to offer loans at higher interest rates compared to banks
  • Sometimes, NBFC’s may have different benchmark PLR’s by customer segment and by product. E.g., an NBFC may have one PLR for retail and another one for corporate
  • When pricing a loan, HDFC typically offers a discount to the PLR to arrive at its lending rate

HDFC PLR Vs. RBI

  • RBI/ NHB require each NBFC/ HFC to set their own PLR rate based on their cost of funds. So, HDFC decides its own base rate from time to time based
  • Note that the RBI/ NHB does not decide the PLR rate

Changes in PLR of HDFC

  • PLR rate can be revised by HDFC periodically in line with changes in interest rates in the market

HDFC home loan interest rate and PLR

  • Every floating rate loan sanctioned by HDFC is benchmarked to its PLR rate
  • The applicable rate of interest on a floating rate 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 HDFC changes. Say, you take a loan at PLR minus 6.75% spread when the PLR is 16.25%. This loan will initially be priced at 9.50%. Whenever HDFC changes in PLR rate, the applicable rate of interest will change correspondingly.

Past trend of HDFC PLR vs RBI Repo Rate

Date PLR
08th Feb 17: 0% repo none by RBI
19th Jan 17 16.15% decreased by 0.15%
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 16.30% decreased by 0.25%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
10th Apr 15 16.55% decreased by 0.2%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
01st Dec 13 16.75% increased by 0.1%
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
24th Aug 13 16.65% increased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
05th Feb 13 16.40% decreased by 0.1%
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 16.50% increased by 0.5%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
16th May 11 16.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Mar 11 15.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
01st Dec 10 15.00% increased by 0.75%
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
01st Sep 10 14.25%
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

HDFC PLR Vs. RBI Repo Rate Trend

About HDFC

  • HDFC's registered office is located at HDFC LTD, 4th, Ramon House, 169, H T Parekh Marg, Churchgate, Mumbai-400020, Backbay .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 8,297 crs. and Standalone net profit of Rs. 5,990 crs. HDFC reported total deposits of Rs. 450,796 crs and total advances of Rs. 365,495 crs.
  • HDFC's management is led by its CEO Mr.Keki M. Mistry.
  • Its current PLR is 16.15%, which was last revised on 19th Jan 17.
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News - Mar 2017
23rd Mar 17 HDFC Ltd to raise Rs. 1,498 crore via debentures
HDFC Ltd is planning to raise funds of Rs. 1,498 crore by issuing secured redeemable non-convertible debentures. The bonds in form of non convertible debentures with a maturity period of three years will carry a coupon rate of 7.78 percent payable annually. The NBFC is planning to utilize the funds for refinancing the housing business and to expand its capital resources.
15th Feb 17 HDFC Ltd to raise Rs. 5,000 crore via Masala Bonds
HDFC Ltd is planning to raise funds worth Rs. 5,000 from international investors via Masala Bonds. The bonds with a tenure of three years are expected to be issued in FY17. The bank plans to utilise the funds for funding growth in its home loan business.
31st Jan 17 HDFC Ltd registers a 12 percent growth in its net profit during third quarter of FY17
HDFC Ltd has reported a growth of 12 percent in its net profit at Rs. 1,701 crore in third quarter of FY17 as compared to Rs. 1,521 crore for the corresponding period a year ago. The increase in profitability is contributed by the healthy growth in net interest income. Loan disbursements to individuals grew by 14 percent during the quarter.
30th Jan 17 HDFC Ltd is expected to register a decent growth in its net profit in FY17
Analysts at CNBC have forecasted a decent growth in net profit of leading housing finance company, HDFC Limited in third quarter of FY17. As per the polls, the bank is expected to witness a growth of 11 percent in its net profit to Rs. 1,681 crore on a year on year basis. The housing finance company is yet to announce its Q3 results of FY17.
20th Jan 17 HDFC Limited reduces retail prime lending rate (RPLR) by 15 basis points for existing home loan borrowers
HDFC Limited has reduced its retail prime lending rate (RPLR) by 15 basis points for existing home loan borrowers. The revised PLR now stands at 16.15 percent as compared to 16.30 percent earlier. Home loan rates are calculated by reducing the spread from PLR.
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