The Hindu Business Line : DHFL offers home loan at 8%

MUMBAI: Dewan Housing Finance Corporation Ltd (DHFL) has joined the bandwagon of those offering lower interest rate home loan schemes for the lower and middle income (LMI) group.

The company on Monday announced a 25-year home loan scheme at a fixed 8 per cent interest rate annually for a period of two years for loans up to Rs 5 lakh, thereafter reverting to the variable interest rate.

Similarly, the company has fixed an interest rate of 8.75 per cent annually for two years for loans above Rs 20 lakh.

DHFL will offer customers the dual advantage of lowest interest rate and an elongated period of repayment.

A slew of banks including State Bank of India, ICICI Bank, Dena Bank and home loan provider, HDFC, among others, have lowered their home loan interest rates in recent days, intensifying competition in the segment.

“DHFL Easy Easy Loan scheme’ has been designed to help reduce the interest rate burden on the borrower and the elongated period will help reduce the amount of EMI over the tenure. The scheme offers the lowest EMI of Rs 772 per lakh,” DHFL’s Chairman and Managing Director, Mr Kapil Wadhawan, said here.

“We are empowering the common man by providing the same eligible amount of loan at a lower interest rate, reducing the monthly installments by a considerable amount through an extended period of 25-years, Mr Wadhawan said. - PTI

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