Home Loan Cuts
Those are very positive signs coming up from the banks for the festive season. Well, after the Sub Prime crisis, it can be seen that Indian banks don't want to take chances and really want to put money in circulation.
Why not, because for last 4-5 years the number of housing loan requirements were huge and presently the number increase should have been cut by say one-fifth. After HDFC announcing 75 BPs, SBI has also hinted on the same. Going by the trend from BoB, Allahabad Bank & so on, can the existing customers be positive about reduction in their floating rates? Increments will happen for everyone simultaneously, but not the other way around.
A very good housing loan customer who keeps paying back on time, can never expect such a rate reduction to happen. Obviously, the customer should move out or atleast threaten to move out. Ain't not?
2 comments:
Jagan,
I have gone in for a Home Loan with HDFC @10.75% floating.
Is the deal OK
Hi Giri...
Check all the news after Sept 1st at http://www.thehindubusinessline.com/cgi-bin/bl.pl?mainclass=06&subclass=152.
The latest is Axis has reduced rate even for existing customers to 10.5% floating. Everything will boil down to all those extra & hidden charges when you repay etc. Please, have a look
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