Mortgage lender Dewan Housing Finance Monday hiked its retail prime lending rate by 50 bps to 17.5 per cent,in line with its peers.
The new rate will be effective in retrospect from May 20,a release issued here by the company said,while a spokesperson added that the new rate stands at 17.5 per cent.
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Other lenders like HDFC Limited and State Bank of India,among others have hiked their lending rates following the Reserve Bank of India’s May 3 announcement to up its key rates to tame the runaway headline inflation.
