HDFC introduces special loan scheme for youth

Housing Development and Finance Corporation (HDFC) has introduced special loan scheme for youth.
HDFC Youth Product was introduced in association with Housing Development Corporation (HDC) for youth to purchase residential properties from Hulhumale' Youth City and will offer a special reduced interest rate of 10.50% for a period of 30 years.
The home purchase loan for youth was introduced to ease the housing needs of youth in Maldives, according to the corporation. HDFC revealed any individual aged between 21 to 35 years can apply for the loan, adding the corporation will authorise loans that do not exceed USD 64,474.
While the owner's equity should be a minimum of 15% of the cost of the property, the remaining 85% will be provided as a loan, according to HDFC.