Housing finance major HDFC offers loans between Rs 30 to 50 lakhs at 9 per cent. HDFC has upped the ante for market share in the home loan market by reducing rates by 50 basis points.
The development comes within a week of the country’s biggest bank SBI cutting rates by 50-75 bps for high-value loans and offering loans up to Rs 5 lakh at 8% fixed rate for five years.
As per the revised rate, loans between Rs 30 to 50 lakhs will be offered by HDFC at 9 per cent. As the lender has not revised its prime lending rate, the rate will apply only for new customers.
Several public sector lending institutions such as Canara Bank, SBI and LIC Housing Finance have unveiled competitive schemes to attract home loan seekers. HDFC now wants to take advantage of the festival season spike in business.
Reference
HDFC cuts rate to 9% for Rs 30-50 lakh loan
Tags: cut down, HDFC, Home Loans, Housing, indian real estate, market trend, property, Real Estate India
