Press Information Bureau
Government of India
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HUDCO REDUCES LENDING RATES FOR HOUSING
ECONOMICALLY WEAKER SECTIONS, WOMEN AND SC/STs TO BENEFIT
Kolkata: October 26, 2009
Housing and Urban Development Corporation Ltd. has effected major reductions in its floating lending rates for housing loans ranging from 1.5% to 4%.
In respect of the social housing sector covering Economically Weaker Sections (EWS) and Low Income Groups (LIG), the new floating rates would be 7% to 7.5% instead of 8.5% to 9%. For the affordable housing through private sector loans upto Rs.15 Lakh would carry an interest rate in the range of 9.5% to 12% based on loan slabs in comparison to the earlier rate of 13.5%. In the case of loans more than Rs.15 Lakh the rate of interest has been slashed from 13.5% to 13%.
HUDCO under its individual home loan portfolio has provided for an overall reduction of 0.25% in the fixed rates from 13.75% to 13.5%. An additional reduction of 0.75% has been provided to women beneficiaries and all beneficiaries belonging to SC/ST categories. For such beneficiaries the effective new fixed rate would be 12.75% only.
sp/dk/kol/17:36 hrs.
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