ICICI, HDFC raise Home Loan rates by 0.50% - 0.75%

After the State Bank of India hiked the interest rates on home loans and car loans by 50 basis points or 0.50 percent, the leading private banks ICICI and HDFC have raised their interest rates by 0.50% - 0.75%. The new rates will take effect from tomorrow.

The minimum floating rate of HDFC will be raised by 0.75% to 11% for new customers. The existing customers will have to pay 10.75%. The new fixed rate will be 14%. the ICICI Bank has increased the floating rate by 0.75% to 13.50%. The benchmark rate of ICICI Bank for corporate will be fixed at 16.50%, up by 0.75%. The HDFC Bank announced an increase of 0.50% in its deposit rates, while the ICICI Bank has raised interest rates on fixed deposits by 0.50 - 1 percent.