Housing Development Finance Corporation (HDFC) has slashed the interest rates by 50 basis points to 9 % for the Rs 30 lakh - Rs 50 lakh slab as against 9.5% earlier. The development comes within a week of 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.
Earlier, HDFC had three slabs of providing loans for home buyers. For loans upto Rs 15 lakh, it charged 8.75% per annum while it charged 9% for loans in the range of Rs 15 lakh to Rs 30 lakh and 9.5% for loans more than Rs 30 lakh. However, now HDFC has introduced a new slab of loans at 9% for Rs 15 lakh and Rs 50 lakh. After this rejig, only loans of over Rs 50 lakh, it charge an interest rate of 9.5%. Earlier even home buyers taking loan of above Rs 30 lakh were paying an interest rate of 9.5%.
Now, HDFC offers loans between Rs 30 lakh-Rs 50 lakh at 9%, as per the revised rates. The rates will be applicable only to new customers as the mortgage lender has not revised its prime lending rate.
Earlier, HDFC had three slabs of providing loans for home buyers. For loans upto Rs 15 lakh, it charged 8.75% per annum while it charged 9% for loans in the range of Rs 15 lakh to Rs 30 lakh and 9.5% for loans more than Rs 30 lakh. However, now HDFC has introduced a new slab of loans at 9% for Rs 15 lakh and Rs 50 lakh. After this rejig, only loans of over Rs 50 lakh, it charge an interest rate of 9.5%. Earlier even home buyers taking loan of above Rs 30 lakh were paying an interest rate of 9.5%.
Now, HDFC offers loans between Rs 30 lakh-Rs 50 lakh at 9%, as per the revised rates. The rates will be applicable only to new customers as the mortgage lender has not revised its prime lending rate.
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