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POSTED BY ON June 17, 2012 9:55 am COMMENTS (3)
It has more than few months that RBI has cut interest rate upto 0.5% but not seen any bank to pass the benefits to existing customer talking in the context of the home loan from HDFC. Am I missing something?
Regards
Zoeb
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Dear Ashal,
Can you send me the name of the banks who has reduced their interest rates, as I am following SBI and HDFC, and they have not pass any benefits to their existing customer (My friend has taken a home loan from SBI initially it was 11% which is now increased to 11
.25%). His loan amount is 50 lacs.
Regards
Zoeb
Dear Zoeb, The big banks had not reduced any rate, it was some small banks who did that posturing. Please check from theeconomictimes or moneycontrol etc.
Thanks
Ashal
Dear Zoeb, many banks had reduced their lending rates by 0.25 to 0.5% in April after the rate reduction by RBI. It was more of gesture & less of real cut.
Please wait for next round of rate cut by RBI to see any happening.
Thanks
Ashal