A housing finance company announced on Friday that it has reduced its benchmark lending rate by 25 basis points following the recent policy rate cut by the Reserve Bank of India.
The reduction in the company’s prime lending rate will benefit both existing and new borrowers by making home loans more affordable. The revised interest rates will now start from 8% and will come into effect from April 28.
The prime lending rate serves as the benchmark for determining interest rates on all types of loans.
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