New Delhi
23-09-09

HUDCO reduces its lending rates for Housing  

Housing & Urban Development Corporation Ltd. (HUDCO) has effected major reductions in its floating lending rates ranging from 1.5%  to 4% for its housing loans. 

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 7.50% instead of 8.5% to 9%.

For the affordable housing through private sector, for loans up to Rs.15 lakh, the rate would be in the range of 9.5% to 12% based on loan slabs as compared to the 13.5% earlier. For loans of more than Rs. 15 lakh, the rate of interest has been reduced to 13% from the earlier 13.5%. 

In addition, under its individual home loan portfolio, an overall reduction of 0.25% has been provided, in the fixed rates, from 13.75% to 13.5%, and an additional reduction of 0.75% has been provided to Women beneficiaries, and all beneficiaries belonging to SC/ST categories.  Thus for these beneficiaries, the effective new fixed rate would be only 12.75%.