HDFC launches festive offer; cuts home loan interest rate to 6.7%

Customers can avail of new home loans starting at an interest rate of 6.70 per cent per annum, irrespective of the loan amount or employment category

The Housing Development Finance Corp­oration (HDFC) has joined the festive season home loan interest rate war between lenders by cutting rates by 45-60 basis points (bps) for borrowers with credit scores above 800 for loans above Rs 75 lakh.

The rebate will be available till the end of October. Last week, two public sector lenders, State Bank of India and Bank of Baroda (BoB), also slashed rates by 25-45 bps in an effort to grow their home loan business.

HDFC, the largest housing finance company, said customers can avail of new home loans starting at an interest rate of 6.70