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The good times continue for home loan borrowers in the affordable housing segment.
Close on the heels of public sector behemoth SBI, private sector biggies ICICI Bank and HDFC too cut home loan rates last week. For loans up to ₹30 lakh for new borrowers, HDFC cut rates by 15 basis points — the rate for women borrowers will be 8.35 per cent and 8.4 per cent for others. Loans above ₹75 lakh will now cost 8.55 per cent from 8.75 per cent earlier.
ICICI Bank cut rates by up to 30 basis points for loans up to ₹30 lakh — the new rate is 8.35 per cent for salaried women and 8.4 per cent for others.
More banks can be expected to follow suit in the coming days. This can provide a boost to the government’s ‘Housing for All’ scheme.
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