PNBHFL cuts home loan rates

New Delhi, Jan 7: Close on the heels of ICICI Home Finance and Dewan Housing cutting their home loans, PNB Housing Finance (PNBHFL) has also cut the rates on home loans by 0.25-0.5 per cent for resident and non-resident Indians.

As per the revised rates, for loans of up to Rs 25 lakh, it would be 11.75 per cent for up to 10 years, 12 per cent for 11-15 years and 12.25 per cent for 20 years, a PNBHFL release said here on Monday. For loans above Rs 25 lakh, the rates would be 12 per cent for up to 10 years, 12.25 per cent for 11-15 years and 12.5 per cent for 16-20 years, it said.

The housing finance company has also cut the processing and administrative fees to one per cent from the existing 1.8 per cent, the release said.

— PTI