NEW DELHI: After a number of private sectors that include ICICI Bank and HDFC Bank announced rate cuts, Axis Bank today announced a reduction in home loans rates to 8.35 per cent for the loan below Rs 30 lakhs for salaried individual. Similarly, for self-employed person, the rate has been reduced to 8.40 per cent from existing 8.70 per cent. The reduction is a sharp cut from 8.65 per cent charged earlier.
“Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lakhs for the salaried segment to 8.35 per cent, the lowest in the industry,” Axis Bank said in a statement.
Rajiv Anand, Executive Director, Axis Bank said “There is a large, genuine and mostly unmet need for affordable housing and the government’s thrust and commitment towards this is noteworthy.
The Bank has been at the forefront of fostering an ecosystem for credit delivery to this segment and believes that the current downward revision in its rates will help more people realize their dream of buying a home.”
In the range of Rs 30-75 lakh, the bank would charge old rate for both salaried and self employed individual. (AGENCIES)
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