Lenders bank on home loan portfolio, cut interest rates

Dec 28 2013, 15:09 IST
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ccording to market estimates, SBI, HDFC and ICICI Bank constitute 48 pct of the Rs 6-lakh-crore home loan market. ccording to market estimates, SBI, HDFC and ICICI Bank constitute 48 pct of the Rs 6-lakh-crore home loan market.
SummaryBanks are looking to spruce up their products by cutting rates.

to Rs 75 lakh and by 15 bps to 10.75% for loans above 75 lakh. Data from the Reserve Bank of India showed that home loans in the April-October period grew by 8.66%, almost double the growth rate of 4.87% from the same period last year.

With the cost of funds having come down, and the demand for corporate loans still tepid, banks are looking to grow their home loan portfolios.

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