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Mumbai, Jul 31: of 11.75% per annum while the fixed rates will be at 14.00% p.a.
Keki M Mistry, vice-chairman & managing director, HDFC, told FE: “I don’t think there will be any kind of slowdown in the housing loan space due to recent rate hikes for many reasons, which include income tax benefit, affordability as the income levels of the borrowers have gone up significantly today.”
Mistry said that there will be no rise in delinquency on the home loan front. Also, he added that the real estate prices are not likely to go up in the near future. He said: “We have given both options before our borrowers, which include prepayment and extension of EMI tenure.”
Albert Tauro, executive director of the bank, told FE that in the case of 550 days’ special deposit scheme, the bank has raised the interest rate to 9.75% from 9.25%. All these measures have been taken in line with the recent hike in CRR and repo rate by the RBI, said Tauro adding that the CRR hike, which comes into effect in August-end, will suck out Rs 300 crore from his bank. ...
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