The country's second largest private mortgage lender, Housing Development Finance Corporation (HDFC) Bank has come with a special Independence Privilege Offer' for its home loan customers.

The offer is a valid for a limited period up to August 15, the marks the country' Independence Day.

Under the offer the salaried individuals can avail special benefits on home loans like discounts on processing fees.

As a part of its drive, the bank is providing personalised home loan counselling and doorstep assistance to prospective customers.

C V Ignatius, general manager, HDFC, Kerala explained that the offer will help the customers in buying property.

He also added that the possibility of lowering of property prices from the current levels is rather low.

During the past few months, property rates have corrected concurring with lowered rates of interest. The demand for credit is yet to take off and interest rates might lower only marginally as many bankers have indicated.

The Reserve of India in its first quarter (2009-10) review of monetary policy has kept the prime lending rates and reverse repo rate unchanged. The prime lending rate of the bank currently at pegged at 4.75 percent, which is lowest in the past nine years.

However, it is expected that in near future interest rates will harden over a period of next 12 months.

The benchmark lending rate is currently pegged at 15.75 percent per annum.