DHFL Reduces Home Loan Lending Rates By 50 BPS to 8.60%

DHFL, one of India?s leading housing finance company, today announced that it has reduced its home loan interest rates by 50 basis points from 9.10% to 8.60 %, effective January 04, 2017.

Mr. Harshil Mehta CEO DHFL said, ?Over the past three decades across semi-urban and tier 2 and 3 locations, DHFL has committed itself to transforming the quality of lives of people in the low and middle income segment by enabling access to home ownership. The Government?s recent decision to provide interest rate relief to home buyers and to those who wish to plan a home in 2017, as well as several past initiatives have created a growth-enabling and conducive environment for the housing finance sector. We will continue to be prompt and responsive to any initiative in the external environment, as we also continue to undertake several internal measures to benefit our customers as part of our commitment to enable access to home ownership for the LMI segment.?

Mr. Mehta added, ?Our vision is to bring credit to the lower segments of society who actually require it. Our focus will be on creating the right products through innovation and customization and reaching out through our large distribution network to the tier2 and 3 locations.?

Rate cut set to actively leverage the potential of affordable housing segment and builds on the positive outlook for the housing finance sector for 2017:
Despite a strong growth in housing loans in the country in the last few decades, India?s housing finance sector has remained relatively underpenetrated compared to its peers as evident by its low mortgageto-GDP ratio (9% as on March 2015), compared to its regional peers (17% for Thailand, 20% for China, 34% of Malaysia). The current low mortgage penetration offers a huge opportunity for the sector to grow which is anticipated to be supported by India?s sustainable development cycle, and the socioeconomic transformation that has already been set in motion. This together with several supply side initiatives including the Pradhan Mantri Awaas Yojana and the Real Estate (Regulation and Development) Act 2016, and RBI?s decision to increase loan-to-value (LTV) ratio are set to enhance transparency and boost confidence of home buyers.
The recent announcement by the Prime Minister to boost mass housing in peripheral areas with attractive interest subventions and increase in the number of homes in rural areas, are tremendously welcome moves particularly for the segment at the bottom of the pyramid, where growth is much needed and potential exists.


About DHFL
DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial access for Indians to own a home of their own. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the company is CARE AAA rated and reckoned as one of India?s leading financial institutions with a large presence across the country, in addition to representative offices in Dubai and London.
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. The company?s wide network, coupled with insights into local customer needs, has enabled the company to provide meaningful financial access to customers even in India?s smallest towns. With a strong business foundation, an extensive distribution network, proven industry expertise and a deep understanding of the Indian customer, DHFL is a respected and trusted financial services company in India with a concerted focus towards enabling home ownership to the low and middle income customer. For further information, please visit www.dhfl.com.

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