HDFC, Indiabulls Housing take on SBI, ICICI with home loan rate cuts

HDFC is offering 8.65% to women borrowers for loans up to Rs 75 lakh, and 8.7% to other borrowers

Housing Finance Development Corporation (HDFC) and Indiabulls Housing Finance Ltd have cut retail home rates by 40-45 basis points, after State Bank of India and ICICI Bank, the two largest banks in the country,  slashed their rates on Monday.

HDFC will offer a rate of 8.65 per cent to women borrowers for home loans up to Rs 75 lakh, and 8.7 per cent for other borrowers. Indiabulls Housing Finance will offer the same rates.

Analysts said this decision on the part of the two housing finance companies is a fallout of the huge rate cut by large banks. Banks