ICICI and HDFC slash home loan interest rate to match SBI

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HDFC, India's largest housing finance company, and ICICI , the largest private lender, have cut down interest rates on home loans they offer, bringing them down to 8.35% for home loans up to Rs 30 lakh.

This is the same rate at which India's largest bank State Bank of India offers home loans.

Also read: Here's how top 5 Indian banks use technology

As per the changes, salaried women borrowers will get home loans at 8.35% and others at 8.40% for loans up to Rs 30 lakh. ICICI has also announced varied rates for women and other borrowers for loans above Rs 30 lakh, at 8.5% and 8.55%, respectively.

HDFC , on the other hand, has kept uniform rates for men and women at 8.5% for loans between Rs 30 lakh and Rs 75 lakh, while for those above Rs 75 lakh, interest would be charged at 8.55%.

Also read: Indians pay too much interest on home loans, reveals study

(Image source My Estate Point)
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