Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,274.20569.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Sundaram BNP Paribas cuts interest rates on home loans

"The reduction in lending rates is in line with the current interest rate in the market," Sundaram BNP Paribas Home Finance, Managing Director, Srinivas Acharya said.

PTI|
Aug 12, 2019, 03.21 PM IST
0Comments
Getty Images
home-loan-tax-new
Chennai: Sundaram BNP Paribas Home Finance Monday announced a 10 basis points reduction in its prime lending rate on housing and non-housing loans with immediate effect.

"The reduction in lending rates is in line with the current interest rate in the market," Sundaram BNP Paribas Home Finance, Managing Director, Srinivas Acharya said.

"We are hopeful that the government's favourable proposals in the recent budget for the housing sector would improve the home buying sentiments and drive demand," he said in a company statement here.

Acharya said the company did not face any liquidity related issues this year and was comfortably placed in terms of fund raising.

"...we will continue to expand our presence in the affordable housing segment and newer areas," he added.

Sundaram Home Finance posted net profits at Rs 145 crore for the year ending March 31, 2019. The company has over 100 branches, the release added.

Also Read

How does negative interest rates policy work?

Trump calls on Federal Reserve to cut interest rates

Interest rate cut on Kisan Vikas Patra

Divided Fed set to cut interest rates this week, but then what?

iQuippo organises event on auction of interest rates

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service