Home Loan Rates Slashed Down by HDFC and ICICI
Following the home loan rate cut by State Bank of India, HDFC and ICICI also slashed the rates by 0.15 percent. According to the statement released by HDFC Ltd the home loans up to Rs 75 lakh for women borrowers will now attract an interest of 9.15 per cent and for others it will be 9.20 per cent. For loans beyond Rs 75 lakh, the interest rate has been revised downwards to 9.25 per cent for women borrower and 9.30 per cent for others.
ICICI Bank also lowered the rates by 0.15 per cent, following which home loans up to Rs 75 lakh for women borrowers will attract an interest of 9.15 per cent from the earlier rate of 9.30 per cent. At the same time, the new rate for the salaried has been reduced to 9.20 per cent, as against 9.35 per cent earlier.
Other lenders are likely to follow the rate cut war.