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idbi: Home Loans and Deposits Rates has been cut by Many Banks - 03/07/09 03:16 AM
Due to economic crisis recently many banks has cut home loan rates again. Recently, India’s 2nd largest bank ICICI has cut home loan rates for its new customers by 25-50 basis points. However, the rate is still high from HDFC and SBI because these banks have already lower interest rates on home loans. Up to Rs. 20 lakh HDFC and SBI interest rates are 9.75% against 10% earlier. However, now ICICI will charge 10% against 10.5% earlier for Rs. 20-30 lakh loan amount. Above 30 lakh loan amount interest rates would be at 11.5% against 12% earlier while HDFC offers 10.75%
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