One of the largest mortgage lenders in India, Diwan Housing Finance Corporation (DHFL) has lowered its home loan lending rates by 0.25 per cent for new customers irrespective of the categories.
Within a month, this is the second rate cut by the Diwan Housing Finance Corporation.
The variable rate of interest for home loans of up to Rs 15 lakh has been lowered from 11 per cent to 10.75 per cent. While, the interest rate for above Rs 30 lakh but up to Rs 75 lakh will be charged at 11.25 per cent and for above Rs 75 lakh interest rate charged will be 11.75 per cent as mentioned in the bank statement issued by them.
The lender had earlier reduced its home loan rates by 0.25 per cent on October, 2012.
Due to the prevailing gloomy economic condition, a large number of borrowers are drying up. Diwan Housing Finance Corporation is drawing aggressive plans for the retail segment, especially the home loan segment.