The Interest Rate cut from HDFC by .25 basic points is very good for the Long term investors in Real Estate. It would help them go out and borrow as much money they need to invest in Flats and Houses.
It is still needs to be seen whether banks like ICICI,ABN AMRO, Private Banks like BOB, CANFIN others do so.
Its been heard that Banks do not pass the benefit of Rate cuts to Home Loan owners who have taken loan already and the story goes that it is applicable only for new home loan borrowers.
It is high time that RBI steps in and issue a governance to these Banks to adhere to bring the interest rates down in line with customer expectations and also adhere to what has peen promised as Floating rate loan.
Unless the Banks become Customer savvy they are bound to be losing touch with borrowers who would not even turn back but as well as become
evangelists for non borrowing.
High time that Banks realize that Customers also need Money and enough of funding themselves from IPOs and taxing the customers.
Lets look forward to a nice .50 basic cut from all Banks.
It is still needs to be seen whether banks like ICICI,ABN AMRO, Private Banks like BOB, CANFIN others do so.
Its been heard that Banks do not pass the benefit of Rate cuts to Home Loan owners who have taken loan already and the story goes that it is applicable only for new home loan borrowers.
It is high time that RBI steps in and issue a governance to these Banks to adhere to bring the interest rates down in line with customer expectations and also adhere to what has peen promised as Floating rate loan.
Unless the Banks become Customer savvy they are bound to be losing touch with borrowers who would not even turn back but as well as become
evangelists for non borrowing.
High time that Banks realize that Customers also need Money and enough of funding themselves from IPOs and taxing the customers.
Lets look forward to a nice .50 basic cut from all Banks.
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