Finance Minister ask Banks to reduce interest rates on loans


THE FINANCE MINISTER HAS ASKED THE BANKS TO PASS ON THE BENEFIT OF REDUCED INTEREST RATES TO BORROWERS, HE WAS REVIEWING THE ANNUAL PERFORMANCE OF PUBLIC SECTOR BANKS FOR THE YEAR 2014-15, THE BORROWERS MAY GET THE BENEFIT OF REDUCED INTEREST FROM 01-7-2015.

2 thoughts on “Finance Minister ask Banks to reduce interest rates on loans

  1. Sir, I want to know I have taken a Home loan from LIC HFL. Now i am paying interest rate is 10.90% Finance minister has informed all banks to REDUCE THE INTEREST RATES TO BORROWERS . i want to know LIC HFL ( Housing Finance) also applicable to reduce the interest rate? Please advise . Thank you sir.

    1. Yes, but not with immediate effect. You may also explore the possibility of shifting the loan to a better interest offered bank. examine the offers carefully and communicate with the lichfl by July, 2015, if you are on fixed interest scheme, you may not get the benefit.
      EP Team

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