It was anticipated that high interest rates will slow down the offtake of the home loans. Just imagine that a single home loan gives an impetus to 165 companies.
However not to worry as retail loan books of banks are holding up despite a slowdown in the economy as banks are pushing retail loans, such as home loans, car loans.
Public sector banks have all extended the festival offers till March 31, 2012. Under these offers, the borrower gets about 0.25 to 0.50 per cent discount on home loans with no processing fees, which is 0.5 per cent of the loan.
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