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Sunday, December 7, 2008

Housing finance companies hint to cut their interest rates following the latest measures of RBI to stimulate the economy

Cheaper funds:

HFCs see RBI’s measures reducing their cost of funds on two counts. First, with the 100-basis point cut in the repo rate, general funds from banks will be cheaper.

Credit flow:

The central bank’s move to raise the cap on loans granted by banks to HFCs for on-lending to individuals for purchase or construction of houses is set to ease the credit flow to HFCs.

On Saturday, RBI increased the limit on loans from banks to HFCs under the priority sector from Rs 5 lakh to Rs 20 lakh. The interest rate charged by banks for loans up to Rs 20 lakh will come down to around 10 per cent from around 12-15 per cent prevailing at the moment.

Instant fund flow at a cheaper rate:

As a result, HFCs said interest rates on such loans (home loans up to Rs. 20 lakh) would come down. Home loan firms hint at rate cut

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2 comments:

  1. AnonymousSunday, December 7, 2008 at 3:57:00 PM GMT+5:30

    Ravi . no new project or other information for long time from you. is it that you dont have anything to sell as the builders have sold out or some "other" reasons.... interest rates come up and down .. are there any sales going on.. (atleast according to the builders)

    ReplyDelete
  2. Ravi KarandeekarSunday, December 7, 2008 at 7:01:00 PM GMT+5:30

    Hello Sharad!
    Thanks for the comment. Yes, true. No news about project launch for a long time. I missed it too.
    # ref: "is it that you dont have anything to sell"

    You are in the know!

    ReplyDelete