If you’re thinking about buying a house, this might be the right time.
The Reserve Bank of India (RBI) recently reduced its interest rates for the second time in April, lowering the repo rate from 6.25% to 6%.
As a result, major public and private banks are passing on the benefits to customers by reducing interest rates on home and car loans.
LIC Housing Finance Cuts Interest Rates
LIC Housing Finance has lowered its home loan interest rates by 25 basis points. Now, customers can get home loans starting at just 8%.
The new rates came into effect on April 24.
Canara Bank Offers Relief
Canara Bank, a government-owned bank, has also announced lower interest rates.
Home loans now start at 7.90%, while car loans start at 8.20%.
