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Home / Industry / Banking /  HDFC joins SBI, Bank of Baroda, PNB; cuts home loan rates. Details here
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Housing Development Finance Corporation (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 of HDFC Home Loan starting at 6.70% 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.

"We are pleased to announce the special home loans rates for the upcoming festive season. I am sure that this offer will help prospective House buyers to realize their house buying a dream and bring festive cheer. 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 Renu Sud Karnad, Managing Director, HDFC Ltd.

HDFC current home loan rates

According to its website, HDFC is currently offering home loan interest rates starting from 6.75%* p.a.

Several banks in the country have cut their home loan rates with the onset of the festive season in order to make housing more affordable. Last week, State Bank of India (SBI), Punjab National bank (PNB), Bank of Baroda (BoB), and private lender Kotak Mahindra Bank announced a slew of offers on home loans.

“We are pleased to launch the festive offer for our prospective home loan customers. Generally, the concessional interest rates are applicable for a loan up to a certain limit and are also linked to the profession of the borrower. This time, we have made the offers more inclusive and the offers are available to all segments of borrowers irrespective of the loan amount and the profession of the borrower. The 6.70% home loan offer is also applicable to balance transfer cases. We believe zero processing fees and concessional interest rates in the festive season will make homeownership more affordable., C.S. Setty, Managing Director (Retail & Digital Banking), SBI said.

An HDFC home loan customer can choose between two types of interest rate options while availing of a home loan. 

1) Adjustable-Rate Home Loan (ARHL)

2) TruFixed Loan.

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