HDFC cuts lending, deposit rates

Housing Development Finance Corp (HDFC), India's largest home mortgage lender, said on Tuesday it had lowered rates on its loans and deposits in view of recent budget and monetary policy announcements.

Housing Development Finance Corp (HDFC), India's largest home mortgage lender, said on Tuesday it had lowered rates on its loans and deposits in view of recent budget and monetary policy announcements.
HDFC said it had lowered the adjustable rate on home loans to 11 per cent from Wednesday from the current 11.5 per cent.

It has cut the fixed rate on loans of more than 200,000 rupees that mature between 11 and 15 years to 11.25 per cent from 12 per cent.

HDFC said interest rates on individual deposits and trust deposits will be cut by 0.25 percentage points from May 22.

Bureau Report

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