I had taken this housing loan from HDFC Limited in June 2007. The loan was floating rate loan at Banks PLR (14%) minus 3%. So, it was 11% at the time loan was taken. Recently I read in the news that HDFC has cut the rates on floating housing loans by 0.50%. I contacted the manager of HDFC Ahmedabad Branch, where I have this loan. What the Manager told me totally shocked me. He said the PLR has not been reduced, but for all the new loans taken after 23/9/2007, HDFC is now charging Banks PLR minus 3.50%. So, keeping the PLR same, while reducing... read full review »