Millennium Post

Hudco cuts interest rate by 50 bps

Public sector major Housing and Urban Development Corporation Ltd (Hudco) has effected another major reduction in its lending rate through a 50 basis points (bps) in its floating rate of interest for projects taken up by the government and public agencies.

Following this, the floating interest rates for these projects for government and public agencies would be 10.75 per cent.

This reduction follows its earlier reduction of 25 basis points in October 2012.

This is applicable for its lending to core infrastructure portfolios covering water supply, sewerage, drainage, solid waste management, urban/ city roads and social infrastructure.

This reduced rate has been made applicable for lending to housing for MIG, HIG and rental housing as well.

In respect of bulk loans extended to government/ public agencies under ‘Hudco Niwas’ also the floating rate of interest would henceforth be 10 per cent for loans up to Rs 25 lakh per unit.
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