Deutsche Postbank Cuts Home Loan PLR.

Deutsche Postbank Home Finance Limited has reduced HBLR by 50 basis points for existing and as well as new customers. With this, the rates of interest on home loans of all existing variable-rate customers would come down by 0.5 percent. While the new rates will come into effect from 7th January 2009 for new customers, the reset date for existing customers shall be 1st March 2009, in order to accommodate implementation across the entire customer database.
DPHFL has recently gone for an ECB of 27 million Euros from its parent Company, Deutsche Postbank, AG, Germany, post relaxation of RBI ECB norms. This, along with the National Housing Bank s special Repo Window for HFCs have positively impacted DPHFL s cost of funds, which has been promptly passed on to its 29 thousand strong customer base.

The Company, which has one of the lowest NPAs in the industry is assigned credit rating of "P1+" by CRISIL and "LAA+" by ICRA and Fitch. With the strong parentage and support of its parent Company, Deutsche Postbank Home Finance Limited is aiming towards becoming a leading player in mortgage finance market.

Deutsche Postbank Home Finance Ltd has grown continuously in the past five years in India to become one of the fastest growing housing finance companies in the country. In the half year ended Sept. 2008, the Company has exhibited an impressive financial performance. The portfolio as on 30th Sept. 2008 stands at Rs 3581 crores, having grown from Rs 2508 crores as on 30th Sept. 2007. The company has a network of 40 branches and satellite offices across India, ensuring door step accessibility in almost all the major urban hubs.