Housing Development Finance Corporation (HDFC)
Housing Development Finance Corporation (HDFC) raised $300 million via external commercial borrowings (ECB). The amount was raised under the affordable housing scheme of the Reserve Bank of India. ECB loans carry a lower rate of interest and are raised abroad. The RBI has allowed housing finance companies to tap external sources of financing to enable [...] Continue Reading »
Mumbai- Growth is expected to continue to be very strong in home loan sector owing to the demand driven by the younger population. Since 50 percent of the Indian population is below 25 years of age and average age of people borrowing loans is 37, in the next 5 to 10 years, there will be [...] Continue Reading »
Housing Development Finance Corporation (HDFC) has sought to revive the market for fixed rate home loans. HDFC has decided to launch a new product where interest rates are fixed for 10 years. Under the new scheme, rates would be 125 basis points lower than HDFC’s existing fixed rate loans. The new scheme is called “Trufixed [...] Continue Reading »
The National Housing Bank has scrapped pre-payment penalty on dual rate housing schemes. The Reserve Bank of India, the banking regulator, has already removed pre-payment charges on dual rate schemes. Housing Finance Companies (HFCs) generally charge 2-4 per cent of the loan outstanding as early repayment charges in order to deter customers from closing the [...] Continue Reading »
The Housing Development Finance Corporation (HDFC) banking sector is on a pace of dropping down the interest rates of home loans. It all depends on Reserve Bank of India (RBI). If RBI goes for a dip down in interest rates, HDFC is sure to follow up the same with home loan categories. In concern with [...] Continue Reading »
