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HDFC Home Loan News - Feb 2021
- 2021-02-03 : Low interest rates and property prices kept demand for homes robust
HDFC reported that the home loan demand has strengthened across different categories. The reasons behind the same is attributed to low interest rates, reduced property prices and concessional stamp duties. The lender’s total loans increased 9% Rs 5.52 lakh crore up from Rs 5.05 lakh crore in the previous year, 76% of the loans to individuals, 11% to construction finance and 6% to corporates. - 2020-12-15 : Home loan interest rate to remain for the next 12 months
HDFC expects that the lower interest rates regime will continue for another six to twelve months that will give the best home buying opportunity for the potential home buyers. The factors like the RBI infusing much-needed liquidity into the home loan sector, various concessions given like the stamp duty relaxations have extended the best buying opportunity for the customers. - 2020-11-02 : HDFC Q2 net Profit reduced to 28% and NII rises 21%
HDFC reported that the bank second-quarter net profit fell 28% to ₹2,870 crores, from ₹3,962 crores in the year-earlier period. Net gains on loans backed by retail loans like home, personal, gold, two-wheeler and car loans along with mudra and business loans stood at ₹159 crores. Further, net interest income rose 21% to ₹3,647 crore and net interest margin stood at 3.3%. - 2020-10-01 : HDFC Bank launches festive season benefits
HDFC Bank has launched ‘Festive Treats’. Customers can avail of special deals on all banking products from loans to bank accounts. The Bank is offering 50% off on the processing fees on auto loans, personal loans and business growth loans and zero processing fee on two-wheeler loans. Further, It is also offering special deals on various brands with credit and debit card purchases. - 2020-09-21 : HDFC sanctions Rs 47K cr home loans to over 2 lakh homebuyers under govt’s CLSS
Affordable home loans and loans linked credit subsidy scheme of the government targeted at lower and middle income segments have been growing steadily for HDFC. It has dissbursed more than 47k home loans under the government’s Pradhan Mantri Awas Yojana (PMAY) scheme in the past six months, including five months of lockdown period.
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