State owned housing finance company (HFC), Housing and Urban Development Company (HUDCO) has announced a re-entry into the retail lending segment. The company had retreated from the segment two years back.
The HFC will be giving home loans upto Rs. 25 lakh at 10.20% which is less than what market leader State Bank of India (SBI) is offering for loans upto Rs. 30 lakh.
The company's official statement said that, "this makes it the most competitive home loan product available for salaried individuals in the major capital cities of India." Other services offered would be free accidental insurance cover, no pre-sanction charges and pre-payment charge waiver.
The company will also not charge any processing fees unless the loan is sanctioned. It faces tough competition from HFCs like SBI and HDFC.
1 comment:
HFC will be better if they will not charge before clearing the loan.
Home loan utah
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