Corporation Bank cuts int rates on home loans

Corporation Bank has cut the interest rate on its floating rate home loans for 5-15 years by 25 basis points.

The bank has cut interest rates on home loans up to Rs 20 lakh to 10.25% from 10.50%. It has also cut the interest rates on home loans above Rs 20 lakh to 11.25% from 11.50%.

Corporation Bank has become the first bank to take the plunge and cut home loan rates.

However, sources say the two big home loan lenders, ICICI and SBI, are not looking at such a move. These two banks will wait for indications from the credit policy review due on the July 31.

Source:
http://www.moneycontrol.com/india/news/business/
corporation-bank-cuts-int-rateshome-loans-/08/33/293252