Axis Bank cuts home loan rates by 30 bps
Shital Jibhe / 18 May 2017
Private sector lender Axis Bank announced a rate cut in home loan interest rates by 30 basis points to 8.35 per cent for salaried persons for loans up to Rs 30 lakh. The revised rate will be effective from May 16 , 2017.
Private sector lender Axis Bank announced a rate cut in home loan interest rates by 30 basis points to 8.35 per cent for salaried persons for loans up to Rs 30 lakh. The revised rate will be effective from May 16 , 2017
Last week, SBI reduced its rate on home loan by up to 25 basis points, offering home loans at 8.35 per cent to women borrowers and at 8.40 per cent for other borrowers. Others, including ICICI Bank and HDFC, followed suit.
Axis Bank's home loan rate for the salaried customer would be 8.35 per cent or 20 basis points above the marginal cost of lending rate (MCLR) for loans up to Rs 30 lakh. For the self -employed, the bank would charge 8.40 per cent or 25 bps above MCLR. For loans between Rs 30 lakh to Rs 75 lakh, the bank would charge 8.65 per cent for the salaried and 8.70 per cent for the self-employed
There is a large need for affordable housing and it is believed that the current downward revision in home loan interest rates would help most of the people fulfil their dream of buying a home.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.