Reduction in home loan interest rate

Q: Hi, I am looking to buy a property and have got to know that the Home loan interest rates are expected to reduce? Is it really going to happen?

Nikhil Agarwal, Delhi

27th February 2013

Home Loan in Delhi

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rbi rates

home loan interest rate

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Replies (6)

ICICI Bank has implemented a reduction in interest rates on home loans by 10 basis points - to 10.15 percent – for borrowers who draw loans for an amount up to Rs 75 lakh.

Richa Shukla,

22nd May 2014

Comment

The finance minister directed banks to provide better home loans to borrowers, particularly for the buyers seeking loans within the Rs. 20 lakh category. Even the Indian Banks' Association is studying ways to facilitate and ease funds to the real estate majors to enable them to complete pending projects.

Tamal, Noida

8th March 2013

Comment

The recent tax benefit on home loans provided by the Finance ministry has somehow boosted the industry’s hope. Currently, an annual exemption of up to Rs 1 lakh is allowed on home loan interest. When the exemption clause was introduced, the apartment prices were at least 40 percent lower than the current rates. The clause has to be modified and the exemption limit needs to be doubled.

Khushbu , Ghaziabad

8th March 2013

Comment

Thanks Piyush.. I know that 0.25 % was reduced recently. But still it is said that more rate cuts will be happening and some more benefits will be provided related to home loans. So I was interested to know about those facilities. If anybody has any updates then please share it with us.

Nikhil Agarwal, Delhi

4th March 2013

Comment

Hi Nikhil.. two months ago only RBI had reduced repo rates.. didn't you know? But it was very less of course. Only 0.25 % was cut in the beginning of this year. And many banks are already giving home loans at reduced rates. I which bank are you looking to take loan then..

Piyush Khoche, Pune

4th March 2013

Comment

The Reserve Bank of India's (RBI) third quarter monetary policy review is scheduled for the end of this month. Analysts are expecting a policy rate cut by the RBI. The RBI policy rates (repo and reverse repo) are symbolically treated as references by financial institutions to decide on their lending rates.

Lokesh Patwa,

1st March 2013

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