NEWS & ADVICE : HOME LOANS
HDFC Bank contemplating a rate cut for retail loans
By Joseph Samson
Oct 15, 2012
Print    Email    RSS   

Private sector lender HDFC Bank may reduce interest rates on select retail loan products for the festive season. The bank's Executive Director Mr. Paresh Sukhtankar made this announcement and said, "From a tactical point of view, we will respond to the market, remain competitive. If the market is moving in a certain direction, we will also remain competitive and I think that is something which we will roll out in the next few weeks."

But, he remained tightlipped on the nature of action that the bank is contemplating and on being asked to disclose details he said, "I do not have anything to convey in a definitive manner."

It is to be noted that ICICI Bank cuts its interest rates on home loans by 1 percent last week. It was followed by Vijaya Bank, which slashed 80 bps on home, car loans. Earlier, State Bank of India had reduced rates on its loan products. In addition to this, SBI had even decreased its base rate triggering off a series of rate cuts by other banks.

On a similar reduction in base by HDFC Bank, Mr. Sukhtankar said that the bank depends on the movement of interest rates on deposits and the credit policy followed by the RBI for such a cut in base rate. He further added that the bank is also contemplating a base rate cut for this quarter.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Home Loan: A way to reduce your taxable...
Income Tax Benefits on Joint Home Loans
Evaluate Hidden costs before buying a house
Mortgage insurance’s relevance in India
How to increase one’s Home Loan Eligibility


I want my Housing loan provisional certificate....
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive