SBI slashes home loan rates by up to 0.4 per cent
Dec 20, 2013
Source : The Economic Times

 

DELHI: Two biggest housing financiers SBIBSE 0.60 % and HDFCBSE 0.71 % on Thursday cut home loan rates by up to 0.4 per cent for new borrowers, a day after the Reserve Bank kept its key policy rates on hold.

Women borrowers would get an additional 0.05 per cent concession on card rates, SBI, country's biggest lender, said in a statement.

SBI home loans will now be available under two slabs-- under Rs 75 lakh and above Rs 75 lakh.

SBI loans of up to Rs 75 lakh would be available to fresh borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate of interest after an additional concession of 0.05 per cent would be 10.10 per cent for home loans of up to Rs 75 lakh.

With regard to loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent.

The new SBI rates would be effective from tomorrow. Country's largest housing finance company HDFC cut rates by 0.25 per cent. "This is a limited period offer and is valid for all new applications submitted before January 31, and first disbursement taken by February 28, 2014," HDFC said in a statment.

The new rates for HDFC home loans of up to Rs 75 lakh will be 10.25 per cent as against the existing 10.50 per cent.

The Reserve Bank of India (RBI) in its monetary policy review yesterday kept short-term lending rate unchanged at 7.75 per cent, while the cash reserve ratio ( CRR) remained at 4 per cent.

In October, SBI had reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.

 

 

 

 

Latest Realty News

Realtors See Realty Boom Post-polls
Dec 20, 2013
HYDERABAD: Several real estate associations of South India converged at the two-day conference organised by the Confederation of Indian Industries here to discuss various aspects and prospects of real estate sector.
Realty firms seek priority sector status for low-cost housing
Dec 20, 2013
DELHI: After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
Sand mining crackdown to hit real estate industry
Dec 20, 2013
AHMEDABAD: The stopping of sand mining in Gujarat is expected to dent the construction industry in a major way. Following National Green Tribunal's (NGT) order, builders in the state are expecting the cost of raw materials to hit the roof.
Joyalukkas Ventures into Real Estate Biz
Dec 20, 2013
KOCHI: Jewellery retailer Joyalukkas group ventures into the real estate sector with Joyalukkas Lifestyle Developers.
Before you invest in property
Dec 20, 2013
MUMBAI: In recent times, a number of high net worth individuals have received calls or mailers from builders or websites to encourage them to invest in property. The deals sound lucrative, with annual returns of 12 per cent and other benefits.
LMW joins hands with Sobha to launch project in Coimbatore
Dec 20, 2013
COIMBATORE:Textile machinery manufacturing major Lakshmi Machine Works has partnered with property developer Sobha to promote a housing development project, élan, at Ganapathy in Coimbatore. The project is coming up on a 4.76-acre plot owned by LMW.
VUDA promises to complete mega housing scheme
Dec 20, 2013
VISAKHAPATNAM: The Visakhapatnam Urban Development Authority (VUDA) will complete the mega housing scheme - Haritha - at Endada in the city and the allottees need not entertain any doubts on that count, according to Vice-Chairman N. Yuvaraj.
IndiaProperty gets $12-m funding
Dec 20, 2013
CHENNAI: Real estate advisory portal indiaproperty.com, held by India Property Online Pvt Ltd, has received its second round of funding of $12 million (around Rs 75 crore) from Bertelsmann, with participation from existing investors Canaan Partners and Mayfield Fund, who got on board India Property in April 2012.
Piramal's PE fund, 2 others in race for stake in Vardhman's 2 realty projects
Dec 20, 2013
MUMBAI: Billionaire Ajay Piramal's real estate focused private equity fund Indiareit Fund Advisors, US-based real estate fund Capri Capital Partners and Edelweiss Capital are in the fray to acquire a stake in Mumbai-based realty company Vardhman Developer's two real estate projects.
India Property raises Rs 74.67 crore in second round of funding
Dec 20, 2013
BANGALORE: Online real estate classified portal India Property Online Pvt Ltd raised $12 million (Rs 74.67 crore) in a second round of funding led by Bertelsmann India Investment along with existing investors Canaan Partners and Mayfield Fund.

Latest Realty News Of State

Realty Talk's