Sundaram Home Finance cuts lending rates

Sundaram BNP Paribas Home Finance has cut its PLR (prime lending rate) by 25 basis points effective October 6. The reduction is applicable to all new loans to be disbursed from October 6 carrying variable interest rate and to all the existing variable interest rate loans effective. The new interest rates on home loans now start at 9.65 per cent. Srinivas Acharya Managing Director of the company said “This reduction is in line with the market and we hope that this would improve the sentiments of home buyers.”