HDFC, along with SBI & Kotak Mahindra Bank, reduces interest rates of home loan

Housing Development Finance Corporation has recently cut down the home loans interest rates by 5 basis points to 6.75%. The company said, “HDFC reduces its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from March 4, 2021”. The change will be beneficial to the existing HDFC retail home loan customers, it stated.

Recently SBI announced an interest concession of up to 70 bps with interest rates starting from 6.7% onwards for a limited period offer till March 31, 2021. Kotak Mahindra Bank also announced a 0.10 percentage point cut in its home loan rates for a limited period where customers will be able to avail home loans for 6.65% till March 31, 2021 as part of a special offer after the rate reduction.