PNB Housing Finance has elevated its retail lending reference fee on housing and non-housing loans by 35 foundation factors.
The hike in retail lending reference fee has come into impact from Might 9, 2022.
In its regulatory submitting, PNB Housing stated, “PNB Housing will increase its Retail Lending Reference Fee on Housing and non-Housing loans, on which its Floating Fee Loans are benchmarked, by 35 foundation factors, with impact from Might 9, 2022.”
PNB Housing Finance’s asset base contains retail loans and company loans. The retail enterprise focuses on organized mass housing phase financing for the acquisition or development of homes. As well as, it additionally gives loans towards properties and loans for the acquisition & development of non-residential premises. Company loans are primarily to builders for the development of residential/business properties, company time period loans, and lease rental discounting.
The hike within the retail lending reference fee comes after when RBI raised its key coverage repo fee by 40 foundation factors to 4.40%. Additionally, RBI saved the standing deposit facility (SDF) fee adjusted to 4.15%, and the marginal standing facility (MSF) fee and the Financial institution Fee are set at 4.65%.
Additionally, on its web site, PNB Housing said that as of date, repo linked lending fee (RLLR) is at 6.90% with impact from June 1, 2022, for present clients. Nevertheless, for the brand new clients, the RLLR is efficient from Might 7, 2022.
Final week, on Friday, PNB Housing shares stood at ₹347.80 apiece down by 3.5% on BSE.
Supply: Live Mint