January 09, 2017 10:14 pm | Updated 10:14 pm IST - CHENNAI:
Sundaram BNP Paribas Home Finance has slashed the interest rate for new home loans from 9.2 per cent to 8.7 per cent. The new rate will come into effect from January 10, according to Srinivas Acharya, Managing Director. The company registered a 13 per cent growth in loan disbursements at ₹1,036 crore (₹917 crore) in the first half of the year. Meanwhile, Indian Bank has reduced the marginal cost of funds based lending rate by 75 basis points to 8.6 per cent for one year. — K.T. Jagannathan
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