SBI & HDFC relax home loan rates by up to 0.4%
20 Dec 2013 5:47 AM IST
‘Women borrowers would get an additional 0.05 per cent concession on card rates,’ SBI, country’s biggest lender, said in a statement.
SBI home loans will now be available under two slabs— under Rs 75 lakh and above Rs 75 lakh. SBI loans of up to Rs 75 lakh would be available to fresh borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate of interest after an additional concession of 0.05 per cent would be 10.10 per cent for home loans of up to Rs 75 lakh.
With regard to loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent. The new SBI rates would be effective from Friday. Country’s largest housing finance company HDFC cut rates by 0.25 per cent. ‘This is a limited period offer and is valid for all new applications submitted before 31 January, and first disbursement taken by 28 February, 2014,’ HDFC said in a statment.
The new rates for HDFC home loans of up to Rs 75 lakh will be 10.25 per cent as against the existing 10.50 per cent. The Reserve Bank of India in its monetary policy review on Wednesday kept short-term lending rate unchanged at 7.75 per cent, while the cash reserve ratio (CRR) remained at 4 per cent.
SBI home loans will now be available under two slabs— under Rs 75 lakh and above Rs 75 lakh. SBI loans of up to Rs 75 lakh would be available to fresh borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate of interest after an additional concession of 0.05 per cent would be 10.10 per cent for home loans of up to Rs 75 lakh.
With regard to loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent. The new SBI rates would be effective from Friday. Country’s largest housing finance company HDFC cut rates by 0.25 per cent. ‘This is a limited period offer and is valid for all new applications submitted before 31 January, and first disbursement taken by 28 February, 2014,’ HDFC said in a statment.
The new rates for HDFC home loans of up to Rs 75 lakh will be 10.25 per cent as against the existing 10.50 per cent. The Reserve Bank of India in its monetary policy review on Wednesday kept short-term lending rate unchanged at 7.75 per cent, while the cash reserve ratio (CRR) remained at 4 per cent.
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