Canara Bank has reduced the rate of interest on fresh housing loans by 50 basis points.

A Canara Bank release said for loans with tenures up to 5 years up to Rs 20 lakh, the rates have been fixed at 10.25 per cent. For tenures between 5 years and 10 years, the rate is 10.50 per cent. For tenures above 10 years up to 20 years, the rate is 10.75 per cent. The rate of interest for fresh housing loans above Rs. 20 lakh for repayment periods up to 5 years is 10.50 per cent; above 5 years up to 10 years 10.75 %; and above 10 years up to 20 years 11 per cent.

Processing charges are also reduced by 50 per cent up to December 31.

A PTI report adds: Central Bank of India has reduced interest rates by 0.50 percentage point on retail loans, effective October 1, a release said.

Housing loans too shall be offered at attractive rates of interest ranging from 9 per cent to a maximum of 10.75 per cent, depending upon period and the quantum of the loan, the bank said.

Source: The Hindu Business Line
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  • 9% interst rate ? Wat are the terms for 9% interest rate home loan?
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  • Term is that u need to go back to 2007 when this was posted !
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  • Not heard of HDFC making it 9.6%, last checked they were offering 10.1% for below 30L loans and 10.4% for above 30L.
    Is this any latest rate cut?

    Originally Posted by amanjawanda
    If you are talking about lowest interest rates then HDFC Housing Loan is the best option. According to my research presently the bank is offering the lowest housing loan rates and surprised its customers again by a new rate cut. After the RBI's rate repo rate cut decision, SBI was leading with lowest lending rate of 9.75% but again HDFC WINS THE RACE with a further announcement of 9.6% Lending Rate.
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  • Checked with HDFC on 9.6% rates, there is no such information at least in Gurgaon branches.
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  • This is really a cool information you are sharing because i am looking for some best offers for home loan.My one friend just get a home loan from axis bank and he get it with really very low interest rates.
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  • I donot think Axis has very less interest in market, as SBI gives home loan on least followed by LICFL.

    Disclaimer : I have recently taken a home loan from Axis
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  • Originally Posted by himrathore
    I donot think Axis has very less interest in market, as SBI gives home loan on least followed by LICFL.

    Disclaimer : I have recently taken a home loan from Axis


    Rathore ji,

    Do you mind if I ask at what rate of interest has Axis Bank given you the loan, and how much (below 30lacs or above) is your loan amount?

    thanks,
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  • No difference even after rate cut. HDFC charging same as earlier till date.
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  • My loan amount is more than 30L and my interest rate is 10.4%

    Spread of the same is BaseRate + 0.4%

    Originally Posted by phoenix83
    Rathore ji,

    Do you mind if I ask at what rate of interest has Axis Bank given you the loan, and how much (below 30lacs or above) is your loan amount?

    thanks,
    CommentQuote