Private housing finance company DHFL has reduced its retail prime lending rate by 20 basis points and now offers home loans for new borrowers at 9.65%. The company has also announced a festive offer of 9.55% interest on loans upto Rs. 25 lakhs valid upto December 31, 2015.
According to the company, its loans are largely to low and middle income borrowers in the Tier II, Tier III towns, with an average loan ticket size of below Rs. 15 lakhs. “The Low and Middle income segment customers, which comprises majority of the total home loan book size, would stand to benefit the most, with the fresh rate cut and the festive season offer,” a statement issued by DHFL said.
On Tuesday, Indiabulls Housng had announced a 25 basis point reduction in its home loans to 9.6%. The country’s largest housing finance provider HDFC has announced a reduction in its lending rate to 9.6% and 9.65% for women and other borrowers respectively. The second largest housing finance provider LIC HF is yet to announce its revised rates following the rate cut by RBI.
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