MUMBAI: The country's largest housing finance company HDFC has reduced home loan rates by as much as 150 basis points following a reduction in its cost of funds.
With this cut all floating rate loans will be available at 9.75% the same level as they were in 2006.
Terming the reduction a special offer, HDFC officials said that such offers were typical of the financial year-end deals.
Biggest gainers this are those seeking to avail of loans between Rs 20 to Rs 30 lakh as interest rates have been reduced 150 basis points to 9.75% from 11.25% earlier.
For loans below Rs 20 lakh the reduction is 50 basis points as the earlier rate was 10.25%. HDFC lending rate cut comes on the back of two successive 50 basis point cuts in deposit rates in recent weeks.
Soruce: http://timesofindia.indiatimes.com/Business/HDFC_home_loans_now_at_975/articleshow/3989196.cms
With this cut all floating rate loans will be available at 9.75% the same level as they were in 2006.
Terming the reduction a special offer, HDFC officials said that such offers were typical of the financial year-end deals.
Biggest gainers this are those seeking to avail of loans between Rs 20 to Rs 30 lakh as interest rates have been reduced 150 basis points to 9.75% from 11.25% earlier.
For loans below Rs 20 lakh the reduction is 50 basis points as the earlier rate was 10.25%. HDFC lending rate cut comes on the back of two successive 50 basis point cuts in deposit rates in recent weeks.
Soruce: http://timesofindia.indiatimes.com/Business/HDFC_home_loans_now_at_975/articleshow/3989196.cms
