
HSBC, UTI Bank to hike home loan rates.
by
Bhavesh
on Sat 25 Mar 2006 06:38 PM IST
HSBC and UTI Bank will hike home loan rates by 50 basis points each w.e.f April 1, 2006.
HSBC has hiked its mortgage lender rate (MLR), the benchmark rate for home loans, by 50 basis points to 9%.
A senior UTI Bank official said: "With this hike, home loans taken on a floating rate basis will become costlier by 50 basis points - for example from 7.5% charged earlier to 8%.Corporate loans will also get dearer with the prime lending rate (PLR) hike."
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