MUMBAI, Feb 5 (Reuters) - Housing Development Finance
Corporation (HDFC), India's biggest housing finance
company, will reduce its prime lending rate by 10 basis points
starting Feb. 6, it said on Tuesday.
This will bring down HDFC's floating interest rates to 10.15
percent on loans of up to 3 million rupees and 10.40 percent on
loans of more than 3 million rupees, it said in a statement.
HDFC's move follows a recent decision by India's central
bank to lower its key policy rate for the first time in nine
months by 25 basis points to 7.75 percent to help support an
economy set to post its slowest annual growth rate in a decade.
(Reporting by Aditi Shah; Editing by Mark Potter)