Leading public sector lender HDFC plans to disburse Rs 3,000 crore over the coming two-months under its special housing loan plan, launched early this month and offering an interest rate of 8.25 per cent.
Talking to reporters on the sidelines of a meeting, Vice-Chairman and Chief Executive Officer Keki Mistry said HDFC has already raised the required funds to meet the disbursal target it has set for the special home-loan scheme. “We have already met the target of raising funds for disbursals under the special loan scheme.” he said.
As part of its special plan, HDFC offers a fixed rate of 8.25 per cent till March 31, 2012, for a 20-year loan of Rs 30 lakh for customers who apply before January 31. With the launch of this and several other new schemes, HDFC expects a 20 per cent credit growth in FY10.
Commenting on widespread speculation about a CRR hike by the Reserve Bank, Mistry said even if the RBI hikes rates it is unlikely to affect the credit growth as there is sufficient liquidity in the system. In answer to a question about whether HDFC plans to cut its interest rates, Mistry said HDFC will take a call on the matter post-January.