HUDCO cuts lending rates

The Housing and Urban Development Corporation Limited (HUDCO)  said it had reduced lending rate by 25 basis points (bps) in its floating rate on most of its lendings on housing and urban infrastructure development projects.

With this reduction, the floating interest rates for Economically Weaker Sections and Lower Income Group housing categories would range from 8.25 per cent to 8.75 per cent, a HUDCO release said.

In respect of HUDCO Niwas, the individual lending scheme of HUDCO, the floating interest rates would henceforth be 10 per cent for loans up to Rs 25 lakh for housing, the release added.