Home loan News
HDFC Bank hiked its retail prime lending rate (RPLR) on housing loans by 5 basis points or 0.05%. PNB has increased the marginal cost of funds-based lending rate by 15 basis points or 0.015%. State Bank of India (SBI) and Bank of Baroda (BoB) increased the MCLR on home loans across tenures last month.
Bank of Baroda, on Friday (April 22), announced a cut in home loan interest rates, in what could be good news for Indian buyers planning to invest in a property or purchase a new house. The state-owned lender has slashed the interest rate to just 6.50%, which is one of the lowest offered by banks in India, making buying a house more affordable for aspiring buyers.