Mumbai, Jan. 17: Borrowers of housing finance have never had it so good.
After ICICI Bank slashed interest rates by a whopping 50-to-150 basis points and kicked off a fresh home-loan war, HDFC today revived an old scheme called, Frils.
The scheme proposes to give loans at 6 per cent interest rate. HDFC has entered into an arrangement with Mumbai-based builders, Ajmera, where they are also expected to share the cost of subsidising the loans.
“We have revived a scheme that was already existing a few years ago,” said a HDFC official.