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Lending rates cut leads to balance transfers in home loan market: ICRA

SBI reduced the lending rates for home loans by 50 bps to 8.6% for floating rate loans

IANS  |  Kolkata 

The lending rates cut, which effectively set off a price war in the Rs 13 trillion home loan market, could lead to increased competition and balance transfers in the highly competitive housing loan market, rating agency ICRA said in its report. With a bulk infusion of fresh liquidity arising out from the demonetisation, State Bank of India reduced the lending rates for home loans by 50 bps to 8.6 per cent (for floating rate loans), various lenders followed suit. Key lenders that together account for over 65 per cent of the home loan market, now offer interest rates in the ...

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