Piramal Housing Finance PLR Rates, Piramal Housing Finance PLR – Dec 2021

Piramal Housing Finance offers the following loans to its customer on these rates currently:

• Piramal Housing Finance decides and fixes its own PLR 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.
• Piramal Housing Finance typically offers loans benchmarked at a discount to the PLR to arrive at its lending rate.

• MyLoanCare regularly tracks RBI repo rates and PLR rates of Piramal Housing Finance to give a past trend in the change in Piramal Housing Finance 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 Piramal Housing Finance Current PLR Rate of Piramal Housing Finance is 20.00%, which was last revised on 10th Dec 19. On the other hand, the current RBI Repo Rate is 4.00% which was last revised on 08th Oct 21.
• It is not mandatory for Piramal Housing Finance to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

• Piramal Housing Finance PLR rate is notional interest rate to which the interest rate on Piramal Housing Finance’s floating rate loans is benchmarked. Typically, all loans by Piramal Housing Finance are priced at a discount to the Piramal Housing Finance PLR.
• Applicable rate of interest on all Piramal Housing Finance 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, Piramal Housing Finance 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.

• Every floating rate home loan sanctioned by Piramal Housing Finance 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).

✅What is the PLR of Piramal Housing Finance?

Current Piramal Housing Finance PLR is 20.00%, which was last revised on 10th Dec 19. Piramal Housing Finance revises it PLR periodically as per market trends and rates.

✅What is Piramal Housing Finance base rate?

Currently, Piramal Housing Finance offers loans at a base rate of 20.00%.