HDFC, the biggest player in the housing loan segment has announced that it has cut the home loan rates by 50 bps points on floating housing loans. The change would come into effect from today and the reduction will be applicable to only fresh loans and disbursement of loans up to October 31 2007. HDFC bank has said that the fixed home loans rate remain same at 13.25 percent.
HDFC also today announced special festive offer in which the interest rate of 10.50% will be offered to the customers availing home loans at floating rate of interest. The offer will be applicable for all loans disbursed on or before October 31, 2007.