HDFC aims to disburse Rs 3,000-cr under special loan scheme

MUMBAI: Leading home-loan lender, HDFC, plans to disburse Rs 3,000-crore over the next two-months under its special loan scheme launched early this month.

HDFC has already raised the required funds to meet the disbursal target it has set for the special home-loan scheme, its Vice-Chairman and CEO, Keki Mistry, said on Friday.

"We have already met the target of raising funds for disbursals under the special loan scheme," Mistry told on the sidelines of a meeting.

Under the special scheme, HDFC offers a fixed rate of 8.25 per cent till March 31, 2012 for a 20-year loan of Rs 30- lakh for new customers who apply till January 31.

The lender expects a 20 per cent credit growth in FY 10, Mistry said.

"The loan growth in the current fiscal is expected to be around 20 per cent," he said.

Mistry, who recently took over the leadership of HDFC from Deepak Parekh, said the lender did not see any major jump in home-loan demand because of an 'overinvestment in 2007'.

Commenting on a likely rate action from the Reserve Bank, Mistry said even if the RBI hikes rates it is unlikely to affect the credit growth as liquidity is sufficient in the system.