Indian major banks have unleashed a price war by
aggressively cutting interest rates on housing loans, said Mr. R.V. Verma, CMD,
National Housing Bank (NHB).
Mr. R.V. Verma, said, ''The competition among financial
intermediaries like banks and HFCs (housing finance companies) - in the housing
loans space will ultimately benefit the buyer (customer). Despite their higher
funding costs vis-Ã -vis banks, HFCs will be able to stand up to the competition
as they have core competencies in terms of better service & faster
turnaround time."
Mr. R.V. Verma also said, ''The economic slowdown has not affected the demand for housing
loans.There was robust demand for home loans from Tier-II & Tier-III
cities."
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