Axis Bank offers home loans at 6.90 pct, far less than SBI or Kotak Mahindra

Private sector lender Axis Bank on Tuesday announced offering home loans at an interest rate of 6.90 per cent as part of its festive season campaign.

The rate is less than that of industry leader SBI's 6.95 per cent for women or rival Kotak Mahindra Bank's 7 per cent offering.

The realty sector was already witnessing rising inventory levels due to a slowdown in sales even before the COVID-19 pandemic. The industry's credit growth is trailing below the 6 per cent mark despite a flush of liquidity.

The home loans priced at 6.90 per cent onwards are under Axis Bank's 'Dil se Open Celebrations' that offer deals and discounts on purchase through its credit and debit cards.

The festive season campaign also includes giving car loans at 7.99 per cent with up to 100 per cent on-road funding, personal loans at 10.49 per cent and education loans at 10.50 per cent, the lender said in a statement.

The story has been taken from a news agency