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New Delhi, Jan. 8

Deutsche Postbank Home Finance Ltd has reduced its benchmark home loan rate by 50 basis points for existing, as well as new customers. With this, the rates of interest on home loans of all existing variable-rate customers will come down by 0.5 percentage point. While the new rates will come into effect from January 7 for new customers, the reset date for existing customers would be March 1, in order to accommodate implementation across the entire customer database.

A DPHFL release said it had recently gone in for an ECB of €27 million from its parent company, Deutsche Postbank, AG, Germany, post-relaxation of RBI’s ECB norms. This, along with National Housing Bank’s special Repo Window for HFCs, have positively impacted DPHFL’s cost of funds, which has been passed on to its 29,000 customers. -

Our Bureau

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