Tuesday, March 19, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. HDFC cuts rates, home loans now available from 6.75 per cent

HDFC cuts rates, home loans now available from 6.75 per cent

The move comes two days after similar announcements by rivals SBI and Kotak Mahindra Bank, who are now giving home loans at 6.70 per cent and 6.65 per cent, respectively.  

PTI Edited by: PTI Mumbai Published on: March 03, 2021 20:52 IST
hdfc bank, hdfc loan rates details, hdfc home loan, hdfc home loan interest rate, hdfc home loan rat
Image Source : FILE PHOTO/PTI

The 'best customers' having good credit histories will be now able to get new loans at 6.75 per cent after the cut.

Mortgage major HDFC also cut its interest rate offering on Wednesday, making credit cheaper 0.05 per cent to its customers.

The 'best customers' having good credit histories will be now able to get new loans at 6.75 per cent after the cut, irrespective of the home loan amounts, officials said.

The move comes two days after similar announcements by rivals SBI and Kotak Mahindra Bank, who are now giving home loans at 6.70 per cent and 6.65 per cent, respectively.

ALSO READ: SBI reduces home loan interest rates to 6.70%, offers 100% waiver on processing fees

"HDFC  reduces its retail prime lending rate (RPLR) on housing loans, on which its adjustable-rate home loans (ARHL) are benchmarked, by 0.05 per cent, with effect from March 4," an official statement said.

The change will benefit all existing HDFC retail home loan customers, it added.

For the existing customers, the interest rates will get repriced 0.05 per cent automatically on the existing interest rates.

However, they will have to approach the lender if they wish to go as low as 6.75 per cent, which will require payment of a fee.

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement