IDBI reduces home loan rates
IDBI Bank has decided to reduce home loan interest rates for loans above Rs 30 lakh by 25 base points. A 10.50% base rate will be applicable on loans up to Rs 75 lakh, while loans above Rs 75 lakh, the pricing would be 25 bps plus the base rate.
The home loan interest saver products interest will go down by 25 bps across all the loan slabs, subject to minimum base rate.
All the revised rate will be effective from November 1, 2012. Also the bank has decided to reduce the retail term deposit rates by between 25-50 bps in seven maturity buckets having maturity of ‘270 days up to 20 years.
A new maturity bucket was introduced by the bank “above 10 years up to 20 years” for deposits up to Rs 1 crore, effective from October.
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