HDFC rules out reduction in home loan interest rate for now

CHANDIGARH:
A twenty-four hours after Finance Curate Phosphorus Chidambaram pitched for less involvement rates on
home loans up to Rs 20 lakhs, private sector lodging loaner HDFC on Friday said
it was not possible for now to additional cut loaning rates. "If you inquire if there is any
possibility of reducing the involvement charge per unit then I will state no right now... because in the calendar month of March, the marketplace goes tight owed to corporate tax
payment," HDFC Joint Managing Director Renu Sud Karnad told newsmen here on
Friday. When asked if she saw
any range for decrease in involvement rates, Karnad said: "I cannot state on this
with certainty... but it is for certain that involvement charge per unit will not travel up further." Last month, HDFC lowered its
prime loaning charge per unit by 0.25 per cent to 13.25 per cent. HDFC, having 0.92 per cent
default rate, is looking at a growing of 25-30 per cent during adjacent financial on the
back of roar in lodging building activity in the country. "We will accomplish 25-30 per
cent growing in the approaching financial in footing of loans disbursement," she said. HDFC, which claims a 38-39 per
cent share of the lodging loan market, is certain of achieving loan progresses of
Rs 30,000 crore by this financial end, up by 25 per cent compared to last fiscal. The lender, which is
organising a place exhibition here, is offering reduced involvement charge per unit for the
duration of the fair. Giving
details, she said that involvement charge per unit of 10 per cent would be charged on housing
loans up to Rs 20 hundred thousand and 10.15 per cent for more than than Rs 20 hundred thousand loan
requirement. "Presently, we are charging 10.25 per cent on lodging loan." She said, "The exhibition is an
attempt to supply place searchers all the services required for place purchase
under one roof."