A host of banks and non-banking finance companies (NBFCs) including SBI and HDFC have recently announced cuts in home equity credit rates as a part of festive offers.

Bajaj Housing Finance (BHFL) on October 1 announced a cut in its home equity credit rate of interest to six .70 percent once a year from 6.75 percent for salaried and professional applicants.

Applicants with good credit, income and employment profile can apply today and save substantially by availing of this new rate of interest , the corporate said during a release.

Customers with an existing home equity credit also can avail of the new rate by choosing a home equity credit Balance Transfer, the firm said.

Eligible applicants can transfer the balance amount on their home equity credit to Bajaj Housing Finance and avail of the reduced rate of interest , it said.

A host of banks and non-banking finance companies (NBFCs) including depository financial institution of India and development Finance Corporation have recently announced cuts in home equity credit rates as a part of festive offers.

On September 21, HDFC said it’ll offer home loans at 6.7 percent as a part of a festive offer, joining a bunch of mortgage lenders that have cut interest rates to perk up demand.

Under this special offer, customers can avail of HDFC home loans starting at 6.70 percent effective September 20, HDFC said.

This offer are going to be applicable to all or any new loan applications regardless of the loan amount or employment category. The special rate is linked to the borrower’s credit score.