DHFL cuts home loan rates

Mortgage lender Dewan Housing Finance Corporation (DHFL) cut its home loan lending rates by 0.25 per cent across categories for new customers.

This is a second rate cut by the lender within a month.

The variable rate of interest for loans of up to Rs 15 lakh has been cut to 10.75 per cent from 11 per cent, while for those above Rs 30 lakh but up to Rs 75 lakh will come at 11.25 per cent and those above Rs 75 lakh at 11.75 per cent, it said in a statement issued here.

It had earlier cut rates by 0.25 per cent on October 10.

The retail segment, especially the home loan vertical, is seeing some aggressive play by bankers in the recent months as the demand from the large borrowers is drying up due to gloomy economic conditions.