New Regulations – PM Modi Announces Special Housing Schemes for Poor !

In a series of announcements, the Prime Minister of India  Mr. Narendra Modi today announced two new housing schemes to encourage the ownership of homes among the urban and rural poor. Both the schemes are brought under Pradhan Mantri Awas Yojana. The schemes were introduced when Hon'ble PM addressed the nation at 7.30 PM earlier in the evening today.

The schemes, designed for poor & underprivileged, will let them avail home loan of upto Rs. 9 lakhs at 4 percent lower interest rate. While loans of upto Rs. 12 lakhs will attract 3 percent lower interest rate. The loan of upto 2 lakhs to renovate and extend the house will come at 3 percent lower interest rate.

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Personal Loan Interest Rates December 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank12.00% - 17.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates December 2018
State Bank of India/SBI8.75% - 9.35%
HDFC8.80% - 9.70%
Bank of Baroda8.65% - 9.65%
LIC Housing8.85% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank9.10% - 9.35%
Axis Bank8.85% - 9.10%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%