Student Loans Rates
Join the battle being waged on the mortgage market, India's second largest lender, ICICI Bank has cut rates housing loans August 20.
Therefore, the rate of housing loans up to Rs 20 lakh will now be 8.75 per cent, while loans between Rs 20-50 Lakh will be charged 9.25 per cent. For loans exceeding Rs 50 lakh, the rate is fixed at 9.75 percent. Previously, loans below to Rs 30 lakh have been accused of 9.25 percent, while the rate for loans of over Rs 30 lakh was 9.75 percent.
The battle over market for home loans primarily by the largest lender in the country, State Bank of India (SBI), a competitive package announced earlier this month. Now, SBI loans are available for 8 per cent for the first year and 8.9 percent for the next two years, depending on the size of the system.
Two weeks ago, the lender more mortgage of India, Housing Development Finance Corporation (HDFC) has revamped its slabs of interest rates, resulting in a 50 basis points (bps) cut to 9 percent for loans of Rs 30-50 lakh. In mid-July, HDFC reduces interest rates on loans up to Rs 15 lakh by 50 basis points to 8.75 percent.
The last player to cut rates of mortgage domiciliary LIC Housing Finance. The second largest country player cut variable mortgage rate by 50 basis points from 9.25 percent to 8.75 percent for loans of Rs 30-75 lakh.
ICICI Bank, which has suffered heavy losses in its portfolio of unsecured loans, said he wants continue to develop its portfolio of mortgages and cars.
At June 30, 2009, pending lender portfolio of home loan was Rs 53.472 million rupees.
Courtesy: – BS DT: – 28-08-09
Student Loan Consolidation Interest Rate