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Artificial rates may lead to crisis: HDFC

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Press Trust of India Mumbai

Hitting out at rivals offering home loans at low interest during early years of the credit period, HDFC on Friday warned that artificial rates could lead to a crisis like the US housing collapse.

“We are seeing some variations of teaser-type housing loans being offered. The lure of low interest rate at the start of taking a housing loan is enticing. But are the customers being made aware of future implications?” HDFC chairman Deepak Parekh asked in a letter to shareholders.

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First Published: Aug 08 2009 | 7:11 PM IST

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