Private sector
mortgage lender Indiabulls Housing Finance has cut housing loan rates by 0.15%
to 10.25%, following the footsteps of state-run banks who have slashed lending
rates to woo customers during the ongoing festive season.
"The new rate is
applicable on loans under Rs. 25 lakh and will remain in force till November
30, 2013" the firm said in a statement.
Indiabulls Housing is
the first private lender to slash rates after a majority of PSU banks,
including State Bank of India (SBI), initiated similar moves on retail products
over the last three days.
The Finance Ministry
has advised PSU banks to cut lending rates in the retail segment to boost
growth. The move has been introduced even as the Reserve Bank of India (RBI)
has flagged issues on potential troubles on the asset quality front.
Market leader SBI
offers the cheapest loan at 10.15%.
IDBI Bank and Punjab
National Bank have announced attractive home loan schemes for a limited period
to attract customers.
No comments:
Post a Comment