Reduced home loan rates for new borrowers of HDFC bank
By Joseph Samson
Aug 7, 2014
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Good news for the customers planning to take Home loan from HDFC bank. HDFC bank has slashed down the home loan rates for the new borrowers irrespective of the loan amount. This offer is in effect from the 1st august,14.

This is the new offer of the bank named ‘Monsoon Bonanza’. The customers can grab this offer from 1st August till end of September, 2014. This will offer the new borrowers, salaried or self employed with home loans at the reduced rates i.e. 10.15%. These offers help the bank to earn good growth in home loan incomes.

This is a limited period offer. Before the announcement of the review policy by the RBI the HDFC launched this offer. However the existing customers will not see any change, they will be charged with the same rate. This offer is exclusively for new borrowers.

(Comments Posted : 1) Post Your Comments
1. This is such a fraud by HDFC!! They reduce the home loan rates for the new customers while keeping the rates unchanged for the old loyal customers. Please understand that a new customer is new only for a period of 3 months for HDFC. Once you fall into their trap, you will see that they will keep on offering attractive rates to new customers while your rates will keep on increasing. This is because HDFC is NOT A BANK and does not come under the purview of RBI like banks. Because of this, HDFC is not required to follow the base rate system like banks have to. Getting home loan from HDFC is definitely much efficient in loan disbursement than say SBI. But home loan is a long term commitment and we should thus consider long term benefits.
Gauri (Posted: Aug 8, 2014)
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