HDFC Ltd and ICICI Bank, two of the largest housing finance providers in the country, on Thursday hiked their floating home loan rates by 0.75 per cent, a move that would increase the overall repayment by an estimated over 12 per cent.

ICICI Bank, the country's biggest private sector lender, also increased the interest rate for retail fixed deposits by 0.75-1.00 per cent, with effect from tomorrow.

Besides, it announced an increase of 0.75 per cent in its floating reference rate for consumer loans, including for housing, with effect from today.

Separately, HDFC said it has revised its retail prime lending rate on which adjustable rate home loans are benchmarked by 0.75 per cent, effective from tomorrow.

Following this hike, the floating rate home loans would be priced at a minimum of 11.75 per cent for new HDFC customers, while fixed rate would remain unchanged at 14 per cent.

ICICI Bank said that the revised floating reference rate for its consumer loans would increase to 14.25 per cent, from 13.5 per cent presently.

The fixed rate loans would not be impacted for ICICI Bank customers as well.