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Home loan rates get cheaper

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Loan against property from HDFC Ltd offers a higher loan amount at an attractive interest rate. Avail loan against a residential or commercial property now\n

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Presentation Transcript
Lower interest rates are conducive for growth of an economy because it is understood that if the cost of borrowing gets cheaper.
  • industries would be enthused to borrow, fuelling an economic growth which perhaps has been evident since early 2015 where the GDP has shown a remarkable improvement.
The exclusive committee set up as Monetary Policy Committee (MPC), which is a conglomeration of government and RBI representatives, chaired by the Governor would be taking collective decisions henceforth.
  • including this announcement, which seems to auger well for the market for Loan on Property. The rates are expected to go down further in the coming months as indicated by the central bank.
The good news is for new home loan borrowers who would be the immediate beneficiaries of the latest rate cut.
  • A few banks have already reduced the lending rates marginally and other banks are set to follow soon.
  • The borrowing rate could be in the range of 9 to 9.25 per cent. Existing borrowers who are on floating rate may have to wait longer to get the benefit of such largesse because banks may want to wait for a while before it is passed on.
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