Mumbai: The country’s largest housing finance company, has increased its retail prime lending rate.PLR) 25 basis points (100bps = 1 percentage point) on home loans. This is the sixth rate hike by the corporation in two months. The lender has increased its benchmark rates by 140 bps this year in line with the hike in repo rates.

In a filing with the stock exchanges, the corporation said it has increased its retail PLR by 25 bps with effect from August 9. An increase in the PLR ​​would mean that the current borrowers would see a rise in their rates. Rates for new customers are likely to be announced soon. 25bps increment will increase EMI Rs 1,539 on a home loan of Rs 1 crore. in the banking sector,

and have already increased the floating rates by 50bps.