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Business News/ Industry / Banking/  HDFC lowers home loan rates tracking SBI rate cut
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HDFC lowers home loan rates tracking SBI rate cut

For home loans up to ₹75 lakh, HDFC is offering an interest rate of 8.65% for women borrowers and 8.7% for other borrowers

Previously, HDFC did not offer separate rates for men and women and had a flat rate of 9.1% for loans up to Rs 75 lakh. Photo: Pradeep Gaur/MintPremium
Previously, HDFC did not offer separate rates for men and women and had a flat rate of 9.1% for loans up to Rs 75 lakh. Photo: Pradeep Gaur/Mint

New Delhi: India’s second largest mortgage lender Housing Development Finance Corporation (HDFC) Ltd, on Tuesday reduced interest rates on home loans. The moves comes a day after State Bank of India (SBI), the largest lender in the housing finance market reduced its home loan rates.

For loans up to 75 lakh, the housing finance company is offering an interest rate of 8.65% for women borrowers and 8.7% for other borrowers. Previously, HDFC did not offer separate rates for men and women and had a flat rate of 9.1% for loans up to 75 lakh.

In case of loans above 75 lakh, HDFC is offering an interest rate of 8.7% for women borrowers and 8.75% for other borrowers, as compared with a flat rate 9.15% previously.

Also read: Lending rates fall. What should you do?

Similarly, Indiabulls Housing Finance Ltd too set its home loan rate at 8.65% for women and 8.7% for other borrowers in case of loans worth up to 75 lakh. For loans worth between 75 lakh and 3 crore, Indiabulls is offering a rate of 8.7% for women and 8.75% for other borrowers. In case of loans worth between 3-5 crore, the housing finance company is offering 8.8% and 8.85% for women and other borrowers respectively.

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Published: 03 Jan 2017, 07:03 PM IST
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