By Accommodation Times News Service
Enabling home ownership to the LMI customer with an extensive distribution network in the tier 2 & 3 cities and towns
DHFL, India’s leading housing finance company in the low and middle income segment, announced reduction in its interest rates by 20 bps to 9.35% for its new customers with effect from October 11, 2016. The Company will offer the interest rate of 9.35% for loans upto Rs 30lakhs which is categorized under affordable housing; thereby enabling home ownership in the low and middle income segment.
Commenting on the move Mr. Harshil Mehta, CEO, DHFL said,” Further to the recent announcement made by the Reserve Bank of India to cut the interest rates, this step taken by DHFL will enable it to pass on the benefit to its end consumers.”
He further added, “Throughout its years of growth, DHFL has stayed true to its core vision of financial inclusion, especially to the low and middle income customers across India. We at DHFL also believe that, the move complements the Government’s initiative of ‘Housing for All’ by 2022 and will help to create more demand making the sector more attractive for investors.”
In August 2016, DHFL created history in the Indian Capital markets by raising a record Rs 14,000 crore within one month from two public NCD issuances. The total demand generated from the two issues was Rs 32,000 crores as per the data available on the exchanges.