Taking a cue from HDFC Bank,some other banks have also announced new loan rates benefiting customers who seek loans above Rs 30 lakh. After HDFC Bank,IDBI Home Finance and State Bank of India (SBI) have also announced rate cuts. While IDBI Home Finance has fixed the interest rate at 10.75 per cent,SBI has marked it at 11 per cent per annum as floating rate and 14 and 11.25 per cent respectively as fixed rates.
Harsh Roongta,founder and CEO of Apnaloan.com,said,This is for the first time a real reduction has been carried out by private banks and it also looks like the lenders appetite is coming back.
However,what remains to be seen is how much disbursement private banks will make in the above Rs 30-lakh bracket.