In addition to festival offers by banks on new home loans, some lenders are taking down interest rates a notch.Mumbai, India, November 15, 2007 - In addition to festival offers by banks on new home loans, some lenders are taking down interest rates a notch. SBI offers floating rates on home loans at 10.5% as against the previous rate at 11.25% for loans up to Rs 20 lakh. For loans above Rs 20 lakh, the bank is charging a higher rate at 10.75%. These rates are applicable up to December 31, the bank said in a statement. According to research by website Apnaloan.com, as on November 07, floating interest rates were 9.5%-10.5% at Punjab National Bank, 9.75% at Indian Bank, and 10.5%--11.25% at HDFC Bank. Current interest rates at different institutions are available at this link.

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