Indian mortgage lender Housing Development Finance Corp., or HDFC, has cut floating rates on some new home loans by quarter percentage point to half percentage point, a company spokesman said Wednesday.
The new rates are effective immediately, he said.
The lender will now charge an interest rate of 8.75% on home loans up to 1.5 million rupees ($31,120) and 9% on loans between 1.5 million rupees and 3 million rupees.
HDFC was earlier charging a rate of 9.25% on all loans up to 3 million rupees.
The new rates are effective immediately, he said.
The lender will now charge an interest rate of 8.75% on home loans up to 1.5 million rupees ($31,120) and 9% on loans between 1.5 million rupees and 3 million rupees.
HDFC was earlier charging a rate of 9.25% on all loans up to 3 million rupees.
