HDFC cuts rates, home loans now available from 6.75%

HDFC cuts rates, home loans now available from 6.75%

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.

PTIUpdated: Wednesday, March 03, 2021, 10:03 PM IST
article-image
Home Loan |

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.

"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.

RECENT STORIES

ITR Refund Delay Explained, Know The Key Reasons Behind The Hold-Up

ITR Refund Delay Explained, Know The Key Reasons Behind The Hold-Up

Sahara Group’s Anil Abraham, Property Broker JP Verma Held In Money Laundering Probe: Enforcement...

Sahara Group’s Anil Abraham, Property Broker JP Verma Held In Money Laundering Probe: Enforcement...

Lodha Developers Eyes ₹1,500 Crore Rental Income By FY31, To Offset Interest And Salary Costs: MD...

Lodha Developers Eyes ₹1,500 Crore Rental Income By FY31, To Offset Interest And Salary Costs: MD...

DLF Chairman Rajiv Singh’s Pay Jumps 34% To ₹36.65 Crore, Performance-Based Bonuses Drive...

DLF Chairman Rajiv Singh’s Pay Jumps 34% To ₹36.65 Crore, Performance-Based Bonuses Drive...

Strong Demand For Travel Food Services IPO, Grey Market Signals Mild Premium On Listing

Strong Demand For Travel Food Services IPO, Grey Market Signals Mild Premium On Listing