HDFC Ltd Cuts Interest Rates On Home Loans: Here’s What SBI Offers

HDFC Ltd has unveiled a huge deal for borrowers who wish to buy their dream house this holiday season. As part of its Blockbuster Festive Offer, the company has announced cheap interest rates starting at 6.70 percent per annum, as well as reduced processing fees totaling Rs 3000 including taxes. The new interest rates are applicable on Housing Loans and Non-Housing Loans and for those who have Credit Scores of over 800.

"Under this special offer, customers can avail of HDFC Home Loan starting at 6.70 per cent effective 20th September 2021" HDFC Ltd has mentioned in its press release. Apart from the lower interest rates, the mortgage lender is also allowed to choose a longer tenure of up to 30 years with a digital loan process. This offering is valid till October 31, 2021 according to the announcement of the mortgage lender.

On the other side, some leading banks have also lowered their interest rates on home loans for eligible customers as a part of the festive season. Kotak Mahindra Bank has recently said via Twitter handle that "Kotak Home Loans starting at surprisingly low interest rates of 6.5% p.a Now get your dream home in reality. Hurry Offer valid from 10-Sep to 8-Nov-21." This low-interest rate of the bank is applicable for all loan amounts and also for new and balance transfer loan types.

Recently Bank of Baroda (BoB) has also announced festive offers with a concession of 0.25% in the existing applicable rate of interest for Baroda Home Loans, Baroda Home Loan Top up and Baroda Auto Loans. After the announcement, the bank is now offering an interest rate starting from 6.75% on home loans with zero processing fees. According to the bank, the offer is valid till 31st December 2021.

The State Bank of India (SBI), our country's largest public sector bank, is providing festive season home loans at 6.70 percent, regardless of the loan amount. While HDFC Bank, India's largest private sector bank, is now giving home loan interest rates as low as 6.75 percent per annum. SBI, Punjab National Bank (PNB), Bank of Baroda (BoB), and private lender Kotak Mahindra Bank launched a plethora of home loan deals this month, which can be found here.