Home loans to get cheaper: SBI, HDFC, ICICI Bank, Axis Bank slash rates

Following other prominent banks, the country's third largest private sector lender Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance.

"Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lakh for the salaried segment to 8.35 per cent, the lowest in the industry," the bank said in a statement here.

For self-employed, rates for home loan up to Rs 30 lakh have been revised to 8.40 per cent.

The revised rates will be available with effect from May 16.

Axis