For Quick Alerts
For Daily Alerts

    HDFC Cuts Home Loan Rate by 0.2 Per cent; EMIs to Come Down


    New Delhi, Apr 10 (PTI) Country's largest mortgage firm HDFC today cut home loan rate by 0.2 per cent to 9.9 per cent for new as well as existing borrowers.

    It has been decided to reduce home loan rate by 20 basis points, with effect from April 13, HDFC Ltd said in a statement.

    HDFC Cuts Home Loan Rate by 0.2 Per cent; EMIs to Come Down

    HDFC said the reduction in its retail lending rate would benefit all customers, including Non-Resident Indians (NRIs).

    With this EMIs would come down for the borrowers. Besides, HDFC has also revised downwards its deposit rates across various maturities.

    Earlier this week, many banks including State Bank of India, ICICI Bank, HDFC Bank and Axis Bank cut lending rate by up to 0.25 per cent after RBI Governor Raghuram Rajan's tough talk with bankers.

    The central bank kept its policy rate unchanged at 7.5 per cent in its monetary policy on April 7.

    The Reserve Bank had blamed banks for not passing the benefits of two repo rate cuts to borrowers and termed as "nonsense" while lenders claimed that cost of fund was still high.

    "The banks marginal cost of funding (has) fallen, the notion that it hasn't fallen, is nonsense; it has fallen" Rajan had said.


    Read more about: hdfc emi interest rates
    Story first published: Saturday, April 11, 2015, 11:09 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more