Effect of HDFC home loan rates increase
by rupyaa paisa
Increase of Home loan rates by HDFC May Effect Home Buyer
HDFC, India’s largest Housing Finance Company, has hiked the home loan rates up to 20 basis points. In banks, customers will be affected by a minimum margin. The interest rates on the loans up to 30 lakhs have been increased by only 5bps to 8.4% from 8.35% for women borrowers. For others, the rate is 8.45% as against 8.4% earlier. The average loan size is around 26 lakhs. Loans ranging Rs. 30lakhs to 75 lakhs are now expensive by 20bps. Loans for Women are available at 8.55% and for others, it’s 8.6%. There is an increase for the 75 lakh plus category whereas women can now obtain loans at 8.65% whereas others can obtain at 8.7%.
Vice-chairman and CEO Keki Mistry said, “The rates have been increased by only one percentage point from the last years. If we compare the product with the 10-year government securities, then you will see the change is just one percent.”
We at Rupyaapaisa deals in the home loan, business loan, loan against property, working capital believes in customer satisfaction and provides the home loan in Delhi NCR with low-interest rates.
By the way, HDFC’s rate increased came at the same time when RBI’s softer-than-expected monetary policy. It has been crashed in the new financial year, raising hopes that the increase in interest rates has remained.