HDFC home loans at 7.75%

Mumbai: Housing Development Finance Corporation (HDFC) has announced that it will offer home loans up to 20 years maturity at 7.75 per cent under its adjustable rate scheme. This offer is for a period of 10 days from 27 October to 5 November 2003 under a special plan, 'HDFC's Diwali home loan bonanza.'

In general, HDFC charges 8.75 per cent for a loan up to five years, 9 per cent for a six-to-10-year loan and 9.50 per cent for a loan of 11-20 years' maturity.

Under the HDFC festive offer, a customer availing of this special scheme will also get benefits of full concession in processing fees, spot approvals of home loans and free counselling on legal issues pertaining to property-related matters.

HDFC has also said that all HDFC offices will remain open on all the 10 days, including Saturdays and Sundays, for customers' convenience.