You are here: Home » PF » News » Loans
Business Standard

DHFL trims lending rate to 9.55% for new borrowers

Company said a bulk of its lending is to the low and middle income segment in smaller cities

Press Trust of India  |  Mumbai 

ICICI Bank launches mortgage guarantee-backed home loan

Mortgage lender today joined the rate cut war with bigger rivals by slashing its lending rate to 9.55% to new borrowers for a limited period.

The city-based pure-play mortgage lender lowered its retail prime lending rate by 0.20% and also announced a 0.10% cut to written till December 31, taking the effective lending rate down to 9.55% for under Rs 25 lakh, a statement said.


This offering is at par with the country's largest lender SBI's minimum rate of lending for non-women borrowers which stands at 9.55%, and better than the 9.65% offered by rivals like HDFC, ICICI Bank and for non-women borrowers for smaller ticket sizes.


In the statement, said a bulk of its lending is to the low and middle income segment in smaller cities and the average loan size is under Rs 15 lakh.

Home are one of the safest bets in a gloomy economy which has affected credit quality at banks. It is also one of the most competitive segments, with lenders trying to outdo each other by rate reductions and other benefits like cutting processing fees.

yesterday introduced a new slab of Rs 28 lakh and announced an offer to provide home at 9.60% for salaried people under the amount, which would go up to 9.65% for above Rs 28 lakh.

RECOMMENDED FOR YOU