In rewarding customer loyalty, a rate cut of 25 basis points will be given to all existing customers effective from 1st April, 2015.
HDFC PLC has concluded ten years of operations giving more than MVR 1.5 Billion in Housing Finance to thousands of Maldivian Citizens to realize the dream of having a decent home in a safe and healthy environment. With a stable growth in its business and profits where the customers are the most valuable partners, HDFC has decided to Share Prosperity by Rewarding Customer Loyalty with a Rate-Cut of 25 basis points (0.25% per annum) across the board to all existing customers from 1st April, 2015.
HDFC PLC to Reduce Rates for all Housing Finance Products
Moving forward to Greater Affordability
Effective 1st April 2015, the pricing of all new housing financing facilities will also be reduced by 50 bps (0.50% p.a.) for all financial products. Their tenor will be increased to 20 years from the current maximum of 15, thereby making monthly instalments more affordable. Furthermore, under the Flexible Instalment Plan (FLIP) and Step-up Repayment Facility (SURF), monthly repayments can be structured for 25 years giving even greater affordability and flexibility to HDFC customers.