ICICI Bank has said that it has reduced interest rates by 30 basis points (bps) for home loans up to Rs 30 lakh with effect from May 15, 2017. With this reduction, salaried women borrowers will get home loans at 8.35% and others at 8.4%.
In both these cases, the reduction in interest rates is 30 bps from the previous rates. Customers taking home loans in the affordable segment will also have the option to select the type of interest rate.
HDFC also followed suit of its rivals and lowered new low-cost home loan prices by 15 bps to 8.35% for women borrowers and by 10 bps for men, thereby matching the rates offered by SBI last week and ICICI Bank. HDFC has lowered its mortgage pricing for new low-cost home loans to 8.35% from 8.5% for loan below Rs 30 lakh for women borrowers.
Published 15 May 2017, 17:57 IST