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National Housing Bank cuts rates

By Our Special Correspondent

NEW DELHI OCT. 15. In a move that could trigger another round of rate cut war, the National Housing Bank today announced slashing of lending rates by 0.40-0.65 per cent.

Further the NHB will offer additional 0.25 per cent lower rates to various institutions for loans up to Rs 10 lakhs.

The refinance rate, the rate at which NHB lends to housing finance companies (HFCs), has been lowered by 0.40 per cent to 6.70 per cent for 3-year loans up to Rs 10 lakhs.

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