HDFC offers easier home loans, 8.25 p.c for two yrs

Making housing loans more attractive, HDFC Ltd has offered special home loan at fixed rate of 8.25 per cent per annum up to 31.3.2012 and the applicable floating rate for the balance term.

Making housing loans more attractive, HDFC Ltd has offered special home loan at fixed rate of 8.25 per cent per annum up to 31.3.2012 and the applicable floating rate for the balance term. This festive offer is a flexible product with dual rates for all new loans irrespective of the loan amount.

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Customers need to apply before 31.1.2010 and take at least part disbursement before 31.3.2010, HDFC said. This special offer is also available for NRIs and PIOs.

“We have been able to bring down our costs due to improved operational efficiency and good quality portfolio. Based on current marginal cost of borrowing, a special festive offer is being made to new customers to reduce the cost for the home buyer,” said Renu Sud Karnad, joint MD, HDFC Ltd.

She said there is ample liquidity in the system and the banking system continued to park around Rs 1 trillion with RBI through reverse repo.

For quick disbursal of loans for ready-made or resale flats, HDFC has launched another product called “Move in Home loans”

“In recent months, we have seen an increase in inquiry levels from prospective customers wanting to move into flats. Also the resale market is huge and documentation with regard to resale properties requires special attention that too on a priority basis,” HDFC said.