Tata Home cuts rates

TATA Home Finance has followed in the footsteps of SBI, HDFC and ICICI Home Finance to cut interest rates on housing loans.

The company has reduced rates by 25 to 50 basis points on various home loan products. Individual home loans will now be available at 12.25 per cent for a period of 20 years (the present rate is 12.5 per cent for a tenure of 15 years). For loans with tenures of up to 10 years, the applicable rate is 12 per cent per annum. -- BL Research Bureau