HDFC Home Loan Interest Rates: Here is good news for home buyers. The bank Housing Development Finance Corp (HDFC) announced on Tuesday that it would offer interest rates on home loans starting at 6.7%. “We are pleased to announce the special home loan rates for the upcoming festive season,” said Renu South Karnad, Managing Director of HDFC Ltd in a statement.Read also – PNB customer alert! The bank further reduces savings interest rates. Check the new rates here
It should be noted that the limited-time offer on the home loan has already been effective since September 20 and that the interest rate of the home loan has been set at 6.7%, regardless of the loan amount. Homebuyers should note that the special loan rate will be tied to the borrowers credit score. Also Read – SBI Recruitment 2022: Vacancies Notified for 48 Specialist Cadre Officer Positions, Apply Online at sbi.co.in
Speaking to News 18, the managing director of HDFC said housing is much more affordable today than it has ever been and that over the past two years property prices have been remained more or less the same in major pockets of the country, while income levels rose. . He said historically low interest rates, PMAY subsidies and tax benefits have also helped. Read also – Good news for bank customers: HDFC Bank revises the interest rate on savings accounts
How to apply for a home loan: HDFC Bank said in a statement that the home loan interest rate concession will be applicable until October 31 and customers can also apply for home loans online by visiting www.hdfc.com. Customers can also apply for home loans online by visiting www.hdfc.com.
Besides HDFC bank, several other banks within months have cut interest on home loans in a bid to entice new buyers in the upcoming holiday season.
Notably, the State Bank of India (SBI) earlier cut interest rates on home loans to 6.7% for any loan amount. This is the first time that a bank has granted home loans at a uniform rate.
Previously, Kotak Mahindra Bank cut interest on home loans to 6.50, the lowest rate in the industry. The reduced rate will be applicable on all loan amounts in the case of fee and balance transfer.
Other banks to cut home lending include the Punjab National Bank which on September 17 announced celebratory home loan offers at 6.60% regardless of the cap.