Sundaram BNP Paribas Home Finance has cut interest rate for new home loans to 8.70 per cent a year from 9.20 per cent, effective 10 January 2017, according to a statement.
“The company hopes that this will help in reviving the sluggish real estate market,” said Srinivas Acharya, Managing Director, Sundaram BNP Paribas Home Finance.
In addition to focusing on the huge salaried segment, Sundaram Home Finance is looking to expand its presence in the rural housing as well as the affordable housing segment.
The company has over 100 branches spread across the country and over 50,000 customers.
Sundaram BNP Paribas Home Finance is a 50.1% - 49.9% joint venture between Sundaram Finance and BNP Paribas.