HomeCURRENT AFFAIRSBUSINESSFestive Offer: HDFC announces home loan rates at 6.7%

Festive Offer: HDFC announces home loan rates at 6.7%

Housing finance company HDFC on Tuesday announced a festive offer in line with peers like SBI with home loans starting from 6.70%. Under the festive scheme, HDFC said that customers can avail HDFC Home Loan starting at 6.70% per annum effective September 20, 2021.

This offer will be applicable to all new loan applications irrespective of the loan amount or employment category. The special rate is linked to the borrower’s credit score.

This is a close-ended scheme and will be valid till 31st October 2021, the lender said.

“Housing is much more affordable today than it ever was. In the last couple of years, property prices have more or less remained the same in major pockets across the country while income levels have gone up. Record low-interest rates, subsidies under PMAY, and the tax benefits have also helped.” said Renu Sud Karnad, Managing Director, HDFC Ltd.

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The special festive offer at 6.70 per cent is for all loan slabs and for all customers with credit score of 800 and above.

Before this special offer, the rate for salaried customers for loan above Rs 75 lakh and credit score of 800 and above was 7.15 per cent and for self employed was 7.30 per cent.

Hence, effective cut for these customers could be up to 45 bps for salaried and up to 60 bps for self employed.

On Tuesday, September 21, shares of HDFC were last trading 0.25 per cent higher at Rs 2,750.30 apiece on the BSE. On Tuesday, HDFC opened on the BSE at Rs 2,75.35, registering an intra day high of Rs 2,765.55 and an intra day low of Rs 2,730.05, in the trading session so far.

(For more updates stay tuned with DNP India)

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