You are here: Home » News-IANS » Business-Economy
Business Standard

ICICI Bank, HDFC reduce home loan rates

IANS  |  Mumbai 

Private sector lenders and on Monday reduced their on home loans.

Private sector lender reduced its by up to 30 basis points (bps) for home loans of up to Rs 30 lakh.

"With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers will get home loans at 8.35 per cent and others at 8.40 per cent," the private sector lender said in a statement.

According to Bank, customers from economically weaker section (EWS) and low income group (LIG) can avail the dual benefit of low and credit linked subsidy under the Pradhan Mantri Awas Yojana.

Commenting on the initiative, Managing Director and Chief Executive Officer Chanda Kochhar said: "is committed to supporting the government's vision to provide housing for all by 2022. In line with this commitment, we have reduced the for the affordable housing segment."

Besides Bank, reduced its rates for women borrowers to 8.35 per cent and others to 8.40 per cent for home loans of up to Rs 30 lakh.

The firm said that for rates for home loans between Rs 30 and Rs 75 lakh has been fixed to 8.50 per cent and above Rs 75 lakh to 8.55 per cent.

On May 8, the country's largest provider State of India (SBI) announced a reduction in the rates by 25 bps from 8.60 per cent to 8.35 per cent per annum.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 22:06 IST