SBI, HDFC offer home loan at 8.40%

Mumbai, October 12

Despite rising interest rates, leading home loan players SBI and HDFC have announced discounted interest rates beginning at 8.40% as part of their festive offerings.

SBI said its home loan book has topped the Rs 6 lakh crore-mark, a first in the industry. The leading lender said it is offering up to 25 bps discount on interest rate to new home loan borrowers, making the entry level rate at 8.40% and the offer will run up to January 31, 2023.

The largest pure-play mortgage player HDFC, which is awaiting its merger with its banking subsidiary HDFC Bank, said it’s also offering discounted interest rates to new borrowers to the tune of 20 bps or at 8.40%. — PTI

Festive offer

• The SBI is offering up to 25 bps discount on interest rate to new home loan borrowers
• HDFC is offering discounted interest rates to new borrowers to the tune of 20 bps