NHB makes home loans easier for weaker section
Good news emerge for economically weaker section as National Housing Bank (NHB)has slashed its refinance rate by up to 100 basis points for home loans not exceeding Rs 5 lakh.
NHB said it has reduced the rate to promote affordable housing finance for low income people in urban areas. It has been pondering schemes for the weak section in the backdrop of a weakening economy.
It is expected that a lower refinance rate would prompt primary lenders like banks and specialized housing finance companies to reduce their lending rates for economically weaker section.
It is to be noted that the low income people are one who earns less than Rs 15,000 a month.
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