HDFC bank is not reducing the interest rate, given that the interest rate has fallen now. When the rates were increasing, they had readily updated it but not now. When asked the response was that the PLR has not changed and it remains the same. As a layman we do not understand these terms and they easily give you many calculations to prove that the interest rate at present is correct. When contacted as a new customer for home loan they are ready to provide at a lesser interest rate of 11% whereas the existing customers rate is maintained at 12%
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