RBI has recently asked the banks to offer the same low home loan rates to their old customers which banks are offering to new customers. Banks cannot afford to do this. So they have decided to stop offering home loan at low interest rates, typically 8% which was 2% below PLR. Union Bank has already declared the rate hike to around 10% ..and more banks will follow.
No more cheap home loans
This message was edited 1 time. Last update was at 12/02/2010 10:56:01
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