ICICI Bank has added to the bandwagon increasing the cheer for home buyers as it also has cut home loan rates to 6.7% ahead of year closing.
The trend started by India’s largest lender that lowered home loan rates to 6.7% was followed swiftly by Uday Kotak backed Kotak Mahindra Bank that went even lower to 6.65%. Real estate lender HDFC also issued a statement that it was lowering the rates by 5 bps as well.
All these offers however are limited to new loans before the close of this fiscal year on March 31, lenders are hoping the low rates will boost up loan books before the year ends.