Home loan rates to increase further in India at FinGad.com

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Home loan rates to increase further in India

Categorie: Emerging Markets
Submitted 3 months ago by

Raghni4949 , Student

I am dead sure that the already steep home loan rates will pinch further following sharp increases in rates by two of the biggest players. It is worthwhile pointing that ICICI Bank and HDFC, which together cover over half the home loan market in the country, have hiked interest rates effective from today.If my calculations are right, ICICI’s customers will have to pay 0.75% more on home loans. The bank’s fixed rate now stands at 14.75% while its floating rate is 11.25-11.50%.Rival home loan major HDFC has also increased interest rates on home loans by 0.75%. Because of this increase, HDFC customers will have to pay 11% interest on floating rates while fixed rates would be 14%.The increase in loan rates from both ICICI and HDFC was expected after the rate hikes by the RBI last week. More...

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#1 | Lovephileo @ 3 months ago WEB CONSULTANT / PASTOR at LIGHT OF THE WORLD CHRISTIAN CENTER User Rank : 413 Portfoilo Balance: $1,110,169.00 Comment Rating: 0 Flag Comment Spam | Miscategorized | Prohibited: And if the banks will not work out radical move and strategies, automobile industry will die as-a-matter-of-course. Costs of funds and operating expenses for banks are going up, for sure financing a vehicle will lead to added costs/interest rates///

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