Home loans may become cheaper in coming weeks
A day after SBI reduced home and auto loan rates and the National Housing Bank (NHB) announced reduction in the refinance rate under a special scheme for the economically weaker section, there seems to be a possibility of further cut looming in the horizon.
Moreover, SBI said that it would cut interest rates on fixed deposits by 25 basis points that have tenure of over 5 years, which indicates that rates may go down further in the coming weeks.
These developments also signify that other banks may be prompted to start paring rates so as to follow the big lenders.
Reserve Bank of India‘s (RBI) move to reduce the statutory liquidity ratio further increases the option for banks to deploy funds for loans. Given the overall situation, it may well be speculated that home loans may become cheaper in near future.
Fixed deposits, home loan, Home Loan rates, Home loans, Housing loan, Housing loans, Loan, Loans, National Housing Bank (NHB), property loans, reduction in the refinance rate, Reserve Bank of India, Statutory Liquidity Ratio (SLR)
