The chief executive officer of HDFC, Keki Mistry announced the last date of special home loan scheme application by Housing Development Finance Corporation (HDFC) has been extended till 31 January. Over the past few years despite the festive season sops and discounts, the demand for home loans kept declining. HDFC has extended the deadline of application third time, it’s fixed cum floating product that is Fixed First. The initial deadline of the project which was launched in September was 31st October.
Under this scheme to avail loan up to Rs30 lakh, the rate of interest fixed by HDFC is 10.75 per cent for a period of three years and for five years 11.25 per cent. Loans between Rs 30 lakh and Rs 75 lakh, for 3 years the interest rate is 11.75 per cent and for loans that are above Rs 75 lakh , interest is 11.75 per cent. If sources are to be believed the disbursement of loan shall be over by February end followed by the last extension. HDFC is not the only bank extending the home loan scheme, state bank of India which is the largest bank has already extended the discount scheme to 31st March which was earlier 31st December.
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