KK Sharma, ED of Bank of Rajasthan, explains the rationale behind its offer of 7.5 per cent home loan rate-which is one of the lowest home loan rates in India. So if you are looking to save money on home loans, check out the offer from Bank of Rajasthan, which is a 66 year old private sector bank. Their website is: http://www.bankofrajasthan.com
Tag Archives: Home Loan Rates
SBI Home Loan Interest Rate Cut & Analysis
The major news from last week for home loans and residential property is this: State Bank of India (SBI) has frozen interest rates at 8% for a year for new home loan customers. Now SBI has one of the most (if not “the most”) attractive home loan interest rate in India. And SBI is SBI…dependable PSU bank that will not go anywhere till India is intact.
So we are seeing many people getting ready to move away from ICICI Home loans and HDFC Home loans to SBI. Some people have reported that ICICI is charging 11% to 15% even after RBI’s reduction of rates. So in this case, that decision to move to SBI makes good logic, if ICICI or HDFC are not willing to match the 8% interest rate. You should not pay 3-5% more interest than the lowest rate in the market. Continue reading SBI Home Loan Interest Rate Cut & Analysis
HDFC Cuts Home Loan Rate Again
India’s largest housing finance company HDFC has reduced home loan rates by as much as 150 basis points (ie 1.5%).
So now, the floating rate for home loans has come down from 11.25% to 9.75%, which is the same level as in 2006.
Real estate advisers say the maximum benefit from this rate cut will be for those people looking for home loans between Rs 20 to Rs 30 lakh.
For home loans below Rs 20 lakh, the reduction is 50 basis points as the earlier rate was 10.25%.
This home loan rate cut by HDFC comes on the back of two successive 50 basis point cuts in deposit rates in recent weeks.
This development is also likely to help the troubled real estate sector by getting them some much needed liquidity.