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Bank of Baroda reduces home loan interest rates to 7.45%; offers nil processing fee - The Economic Times
Economic Times
·
2m ago
Medial
Bank of Baroda has reduced its home loan interest rates to 7.45% per annum and waived the processing fee, following a repo rate cut by the RBI. This makes home loans more affordable, reflecting a series of monetary easing actions by the RBI. The reduction follows an earlier cut in June. Concurrently, Punjab National Bank increased its Repo Linked Lending Rate, although adjustments in Bank Spread balanced the overall customer impact.
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Public vs private banks: Who offers the cheapest home loans now after RBI's 50 bps repo rate cut? - The Economic Times
Economic Times
·
2m ago
Medial
The Reserve Bank of India's latest 50 basis point repo rate cut leads to reduced home loan interest rates, potentially lowering EMIs or shortening loan tenures for borrowers. Public and private banks offer varied rates, requiring borrowers to compare fees, processing speeds, and other terms. With differences in costs and approval times between public and private banks, borrowers are encouraged to assess all aspects before committing to revised home loan agreements.
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Bank of Baroda cuts loan rates by 0.25 pc on select products of car, mortgage loans
Economic Times
·
12d ago
Medial
Bank of Baroda announced a 0.25% reduction in interest rates for select car and mortgage loans, effective immediately, as part of efforts to boost credit growth. The floating car loan rate now starts at 8.15%, down from 8.40%, aligning with credit profiles. Mortgage loan rates are reduced to 9.15% from 9.85%. This move comes amid calls for economic expansion and competitive pressures in the home loan market, enhancing the bank's loan offerings.
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HDFC Bank reduces lending rates (MCLR) for these tenures; check latest home loan, FD, base and PLR rates - The Economic Times
Economic Times
·
2d ago
Medial
HDFC Bank has reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 5 basis points on certain loan tenures, benefiting borrowers with MCLR-linked loans. The new rates range from 8.55% to 8.75%, depending on the loan duration. Additionally, HDFC Bank's home loan interest rates vary between 7.90% and 13.20%, while fixed deposit rates for general citizens range from 2.75% to 6.60%. The base rate is maintained at 9.35%.
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Using SIPs to prepay your home loan: Is it a genius strategy you should try or a gamble you should avoid? - The Economic Times
Economic Times
·
13d ago
Medial
An "EMI plus SIP" strategy involves taking a longer home loan tenure and investing the difference in EMIs into mutual funds. Historical data indicates that potential mutual fund gains may surpass loan interest. The strategy depends on investments generating higher returns than the loan's interest rate. Key factors include consistent investing and potential tax deductions, but it carries market risks as investment returns aren't guaranteed to outperform interest rates.
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Home loan EMIs to drop? Big banks like SBI, HDFC Bank, PNB, Bank of Baroda, IOB cut lending rates in August 2025; check bank wise list - The Economic Times
Economic Times
·
22d ago
Medial
Several major banks, including SBI, HDFC, and PNB, have revised their marginal cost of funds-based lending rates (MCLR) following the RBI's August 2025 monetary policy meeting. These adjustments, effective in August, may lead to reduced loan tenures or lower EMIs for borrowers with MCLR-linked loans. While SBI and PNB cut rates by up to 5 basis points, Bank of Baroda reduced rates by 10-35 basis points, and Canara Bank maintained its current rates.
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RBI Policy Impact on Home Loans: EMIs to stay unchanged as central bank holds repo rate at 6.5%
Money Control
·
1y ago
Medial
The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5 percent for the sixth consecutive time. This means that home loan interest rates will remain stable for now. Home loan rates currently range from 8.30 percent to 8.75 percent, making it a favorable market for new borrowers. However, existing borrowers may continue to face higher interest rates for a few more months. To mitigate this, borrowers have the options of refinancing their loans to a lower rate, making part-prepayments, or switching lenders to take advantage of lower interest rates.
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Big hit to savings account holders: SBI, HDFC Bank, ICICI Bank cut interest rates in June 2025 - The Economic Times
Economic Times
·
2m ago
Medial
In June 2025, major Indian banks like SBI, HDFC Bank, and ICICI Bank reduced their savings account interest rates following a 50-basis-point repo rate cut by the Reserve Bank of India. SBI now offers a uniform 2.5% rate, while HDFC and ICICI offer 2.75% on all balances. Other banks like Bank of Baroda, Federal Bank, IndusInd Bank, and RBL Bank also revised their rates, affecting depositors' returns.
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Home loan segment: Private banks feel the pinch as PSUs, HFCs come home
Economic Times
·
1m ago
Medial
Private banks are under pressure in the home loan market as government banks and housing finance companies (HFCs) reduce interest rates to attract customers, posing stiff competition. While public sector banks offer more competitive rates starting at 7.35%, private banks offer slightly higher rates, leading to challenges in expansion due to thinner margins. Major private banks saw varying growth in their home loan portfolios, with some focusing on more profitable segments to safeguard profitability.
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A bellwether signal? SBI hikes home loan rates by 25 basis points
Economic Times
·
25d ago
Medial
State Bank of India (SBI) has increased home loan rates by 25 basis points for new borrowers, indicating a potential shift towards higher interest rates in India's home loan market. This rate hike primarily impacts applicants with lower credit scores. Union Bank of India has also raised its rates, with other public lenders potentially following suit. The move may signal a strategic shift from low-margin retail loans, aiming for lending segments that offer better profitability.
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LIC Housing Finance reduces interest rate in line with recent RBI repo rate cut
Economic Times
·
2m ago
Medial
LIC Housing Finance has reduced its interest rate on new home loans by 50 basis points, aligning with the recent RBI repo rate cut. This change makes new home loan interest rates start at 7.50%, effective June 19, 2025. The reduction aims to benefit new home loan customers, enhance affordability, and boost housing demand, particularly in affordable and mid-income segments. The move coincides with LIC Housing Finance's 36th Foundation Day and supports RBI's economic stimulus efforts.
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