Saturday, December 4, 2010

HDFC home loans get costlier

HDFC Home Loans (Click the News to Enlarge)

Homeowners who have taken loans from mortgage major Housing Development Finance Corp (HDFC) will now have to pay a higher EMI. HDFC has increased interest rates for all its existing floating rate customers by 75 basis points (100 basis points = 1%) while for new customers the increase in rates will be 50 basis points. The hike has become effective from Wednesday.

For existing customers, the new rates will be their respective current rates plus 75 basis points, while new customers will get loans at 9.5-10 % per annum , depending upon the loan amount.

To read more, please, visit The Times of India

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