Affordable housing booster shot
Banks have cut their home loan rates by 30 basis points for loans of up to Rs 30 lakh
Following in the footsteps of the State Bank of India (SBI), private sector lender ICICI Bank, Axis Bank and home finance major HDFC have cut their home loan rates by 30 basis points for loans of up to Rs 30 lakh. The revised rates will be offered to new borrowers from the economically weaker segments. In case of SBI and ICICI Bank, salaried women borrowers will be charged 8.35 per cent, while the rate applicable to others is 8.4 per cent. Likewise, self-employed female applicants will have to service loans at an interest rate of 8.5 per cent, while other non-salaried borrowers will have to shell out 5 bps more. HDFC offers interest rates of 8.35 per cent and 8.4 per cent to women and other borrowers respectively. Axis Bank offers similar rates for salaried and self-employed borrowers.