Real estate developers rallied after newspaper Times of India reported on Tuesday some banks were cutting home loan rates for new borrowers, sparking hope of increased property sales in the country. DLF and Unitech rose about 1% each on the report, which said that lenders Canara Bank and IDBI Bank had slashed these rates to attract new borrowers. The […]
Tag: Canara Bank
Home loan sales reviving
November 11, 2008 – 1:44 am
Bankers believe their strained home loan portfolios will see relief in the coming quarters, with interest rate cuts coming into force. “We expect our home loan offtake to increase by 22 per cent y-o-y next quarter with the fall in interest rates,” said B.R. Pai, General Manager, Syndicate Bank. The bank, which has sixty-five hundred […]
Loans to get cheaper as SBI cuts rate again
February 21, 2008 – 3:41 am
SBI has decided to cut the home loan repayment rate. After going up for months, EMIs are set to come down. This follows a decision by four public sector banks, led by SBI, to cut their prime lending rates further by 0.25% to 0.50%. SBI’s new PLR will be 12.25%, effective from February 27. Canara […]