Corporation Bank has eased burden of rate of interest on home loans by 5 basis points, w.e.f April 1, 2012. As stated in a statement issued by the bank, the interest rates on loans up to Rs 25 lakh for a period of up to five years have been slashed from 10.8 per cent to [...]

HDFC Banks says home loan seekers can get 0.5 per cent-0.75 per cent cut in rate of interest, if the Reserve Bank of India (RBI) will curtail rates this month. As said by Ms. Renu Sud Karnad, “If there would be a reduction in market rates then it will normally take two-to-three months to pass [...]

IDBI Bank has reduced floating home loan rates on new loans, across varied loan slabs up to the maximum of 75 basis points. The revised rates will be effective from April 2, 2012. The bank has reduced floating interest rates in respect of loans up to Rs 25 lakh by 25 basis points, by 50 [...]

Canara Bank has slashed home loan interest rates, w.e.f April 2, 2012. Now the interest rate will vary between 10.75 per cent and 11.25 per cent. This interest rate reduction is for all borrowers across varied repayment tenures and quantum slabs. After the reduction, for loans between Rs 30 lakh and Rs 75 lakh, the [...]

State Bank of Travancore (SBI) has offered re-price existing home loans at low rate of interest. Under this scheme, borrowers will be allowed to switch to current floating interest rates, which will be available at a discount to the prime lending rate. Moreover, the borrower will be needed to pay a one-time ‘switchover fee’ of [...]

IDBI Bank has slashed its floating home loan interest rates by 25-75 basis points in varied slabs, which will be effective from April 2, 2012. Interest rate on housing loans up to Rs 25 lakh has been slashed by 25 basis points. For loans between Rs 25 lakh and Rs 75 lakh, the interest rate [...]

The festival season has finished long ago, but the festival loan schemes of banks are not ended at all. Various banks are yet to withdraw their fixed-cum-floating rate home loan schemes because they are receiving strong response. The HDFC, which had introduced its dual-rate product Fixed First last year, has stretched its deadline to March [...]

The Union Bank of India (UBI) has declined the interest rate on loans for home and small and medium enterprises (SME) from April. As stated by Mr. M V Nair, Chairman & Managing Director, “Our net interest margin is around 3.3 per cent and we are planning to curtail interest rates on various products like [...]

To boost the retail lending and drive the home loan portfolio, Vijaya Bank has started a special campaign by curtailing rate of interest on housing loans by 0.25 per cent and 50 per cent concession on processing charges from February 1 to April 30, 2012. The minimum interest rate which will be offered to the [...]

The Central Bank of India has signed an agreement with Tata Housing for offering a special home loan product, which is exclusively designed for pensioners. As said by Mr. R Sangapure, General Manager, Central Bank of India, “We have inked an agreement with Tata Housing for our newly developed housing loan product that will be [...]