Home Loans major HDFC bank announced that it is reducing the home loans rates by 0.50% for the Rs.30 lacs to Rs.50 lacs segment. Now they will offer the loan at 9% interest rates. This will be applicable only to the new customers.
HDFC Reduces Home Loans Interest Rates
August 17, 2009
Recently SBI has reduced the home loans rates by 0.50%-0.75% and it forces other banks to reduce the rates. SBI also offeres the loans at 8% interest rates if the amount is below Rs.5 lacs.
One Response to “HDFC Reduces Home Loans Interest Rates”
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August 22, 2009 at 7:03 am
Do you know that by an order National Consumer Disputes Redressal Commission directed State Bank of India to refund the home loan preclosure charges of Rs 44,000/- collected from a borrower who wanted to shift to another Bank as the other bank was offering a lower rate of interest. SBI refunded the charges and filed a SLP in the Supreme Court which ordered “after hearing counsels of both the parties, the SLP is dismissed and the Court saw reason to interfere with the impnged order”. Based on similiar grounds the Karnataka Consumer Comission ordered Union Bank of India to refund Rs 64.80 lakhs with interest till the date of payment to an educational institution and in another case they ordered the refund of Rs 14.50 lakhs with interest against Jammu & Kashmir Bank in favour of its customer, where both customers wanted to shift their loans because some other bank was offering better terms.