Sundaram Home Finance cuts interest rates

Sundaram Home Finance cuts interest rates

Agency News

Chennai, Aug 12 : Sundaram BNP Paribas Home Finance Limited on Monday announced a 10 basis points reduction in its Prime Lending Rate (PLR) on housing and non-housing loans for all customers, existing as well as new, on variable rates of interest.

This would become effective from today, a company release said.Company Managing Director Srinivas Acharya said “the reduction in lending rates is in line with the current interest rate in the market.”“We are hopeful that the Government’s favourable proposals in the recent budget for the housing sector will improve the home buying sentiments and drive demand in the housing sector,” he added.

On the liquidity scenario, he said the company has not faced any liquidity
related issues this year and is comfortably placed in terms of its fund-raising
plans for the year.

''We are confident of picking our share in the available business in the Home
Finance space. In addition to focusing on the salaried segment, we will continue
to expand our presence in the affordable housing segment and newer areas'',
he said.(UNI)