HDFC to offer home loans at 6.70% rate till Oct 31

Housing finance company HDFC has announced that it will reduce home loan rates for a limited period for the festive season. Starting from September 20, home loans will be offered by the finance company at 6.70 per cent. The scheme will be available till October 31.

The scheme will be applicable to all new loan applications irrespective of the loan amount of the employment category.

“HDFC, India’s premier housing finance company, today unveiled its special limited period offer for the upcoming festival season. Under this special offer, customers can avail HDFC Home Loan starting at 6.70% pa effective 20th September 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,” said HDFC.

Renu Sud Karnad, Managing Director, HDFC Ltd said that property prices have more or less remained the same in major pockets in the country. “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 Karnad.

Meanwhile, sister company HDFC Bank is aiming to double retail loans as consumer demand continues to increase. HDFC Bank head for retail assets Arvind Kapil stated that uncertainty is declining and demand improving as businesses seek to strengthen growth.

Also read: HDFC Bank aims to double retail loans