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HSBC India of the Zee sector has reduced its interest rate on home loans by 0.10 percent to 6.45 percent. However, this offer of HSBC India is for the transfer of a home loan to another bank. Let us tell you that this bank has one of the lowest interest rates in the industry. Apart from this, HSBC is offering a home loan at the rate of 6.70 percent for new home loans. This offer is equivalent to the offer offered by state-run banks State Bank of India and HDFC Bank. According to media reports, Yes Bank has also reduced the interest rates on home loans to the same level.
Kotak Mahindra Bank cuts interest rates
Kotak Mahindra Bank Limited has recently announced to reduce its home loan interest rates by 15 basis points (bps) to 6.50 percent. This special rate of 6.50 percent per annum is a limited period festive season offer for the period from September 10 to November 8, 2021. The reduced rate will be available on all loan amounts and will be linked to the credit profile of the borrower. The revised rate will be applicable on both new home loans and balance transfer loans.
PNB has reduced the interest rate by 0.50 percent on home loans above Rs 50 lakh. After the reduction in interest rates, the interest rate on home loans has gone up to 6.60 percent. HDFC Limited has reduced the interest rates of home loans by 0.60 percent under the Festive Season Offer. After the reduction in the home loan interest rates by the company, 6.70 percent interest will now be charged on all slabs. According to media reports, this offer of HDFC Limited is valid till 31 October 2021.
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