HDFC Reduces Interest Rates On Home Loan For New Borrowers

Published: January 16, 2009 at 10:15 PM | Author: Administrator
News Source: Indian Realty News

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Housing Development Finance Corp (HDFC), the largest home loan lender is cutting interest rates on home loans. This comes after it cut rates in mid December by 0.5 per cent. It says it is looking to reduce home loan rates for new borrowers.

HDFC Says, new home loans up to Rs 30 lakh to be available at 9.75 per cent and home loans above Rs 30 lakh to be available at 10.75 per cent. Decision of home loan rate cut is to be formally announced on Monday. In December HDFC had reduced interest rates by 0.5 per cent. For Rs 20 lakh loan interest rate was cut to 10.25 per cent while loans above Rs 20 lakh, rate was cut to 11.25 per cent.