India +91 9717000592
Subvention Plan from HDFC
Subvention scheme in home loan refers to a proposal of bank financing for a project. As per this Subvention Loan, once an individual applies for a loan for an under construction property, for the first 2 years of the loan period, the borrower need not have to pay any EMIs; all the interest for first two years will be paid by the concerned builder. So, predominantly you own a property without having to pay any interest for 24 months. Recently, banks have agreed to this form of financing only for Category A builders.
RBI circular on interest subvention:
Scheme of 1% interest subvention on housing loans upto Rs. 10 lakh
The Scheme is extended up to March 31, 2012.
Mention may be made of projects funded by HDFC under Subvention:
EmaarMGF Palm Terraces (Pay 15% & 100% EDC/IDC by 15 March 2011 & No EMI till 31 March 2012).
IREO RISE APARTMENTS MOHALI (shell out 22% INITIALLY and BALANCE ON POSSESSION TILL THEN NO EMI).
HDFC officials say that the schemes made equal sense for the developers, buyers and housing finance companies.HDFC Bank tries to create a buzz around the (subvention) scheme in the hope of reviving the market.
Home Loan FAQs
Frequently asked questions about home loans in India. Read More
Choosing Right Home Loan
If you are planning to buy home, learn more about home loans features and processes. Read More
Home Loan Interest Rates
|HDFC Bank||10.75% - 11%|
|Barclays Bank||11% - 11.25%|
|HSBC||10.75% - 11%|
|Kotak Mahindra Bank||11.25% - 11.50%|
|DHFL||11.25% - 11.50%|
|First Blue||10.50% - 11.75%|
|Citi Bank||10.50% - 11%|
|Standard Chartered Bank||10.75% - 11%|
|Axis Bank||10.75% - 11%|
|ICICI Bank||10.50% - 11.75%|
|Deutsche Bank||10.75% - 11%|
|T & C apply*||Know More|