Axis Bank cuts home loan rates by 0.30%

Axis Bank has lowered its rate for a home loan under Rs 30 lakh by 30 basis points (bps) to 8.35 per cent for the salaried and to 8.4 per cent for the self-employed.
 

A loan under Rs 30 lakh comes under the definition of affordable housing, where borrowers get a subsidy of Rs 2.67 lakh a year. 
 

The private lender’s move is in response to State Bank of India (SBI) cutting its rates by 25 bps to 8.35 per cent early this month.

SBI’s move was followed by ICICI Bank and HDFC; they cut to match its revised