Myself and some of my friends and relatives have taken home loans from HDFC and ICICI banks.
recently, RBI has introduced lot of liquidity in the market by reducing CRR considerably. RBI has also reduced repo rate 2-3 days back, which lowers cost of funds for the banks.
due to these measures from RBI, many public sector banks have reduced home loan floating interest rates. but the two leading private banks, ICICI and HDFC have not reduced home loan rates yet. my question is why? they say in the media, they are evaluating the situation...
when RBI increases CRR or repo rate even by 50 basis points, all the banks increase the interest rates immediately.
why are these private banks not reducing the rates now.
this is not good... we home loan customers are not getting our legitimate right of market based floating interest rates.
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