Low Interest Rate Home Loan

By Petra Amelia on October 1st, 2007

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Housing Development Finance Corporation (HDFC) has lowered its floating interest rates on new home loans by 0.75 percentage points to 10.50% for a limited period. State Bank of India (SBI), too, announced similar concessions for fresh home loan borrowers in Kolkata. SBI is offering the scheme only at its home mela held in Kolkata. The reduction in interest rates for fresh borrowers, however, does not apply to existing floating rate home loan customers. Incidentally, Bank of Baroda (BoB) lowered its rates in the first week of September itself, well before the onset of the festive season. It cut rates by up to 0.50 percentage points.

Read this entire article on economictimes.indiatimes.com

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