Search
Despite Low Rates on SBI Home Loans Analysts See a Dearth of Buyers
May 09, 2017
SBI has lowered the interest rates on home loans by 25 BPS thus allowing women to get loans up to Rs. 30 lakh at 8.35%, and others at 8.4%. This is a bargain when compared to its rivals ICICI bank which is providing loans up to 75 lakh at the interest rate of 8.7% and HFDC, which is providing loans for an interest rate anywhere between 8.5% to 9%. However, the country’s largest lender is still not able to attract enough buyers as it expected. This is because home loans grew by a meager 15.2% year-on-year this March as compared to 18.8% in March last year, as per the data provided by the RBI.
