Lower interest rates for loans up to Rs. 20 lakh: FM

During the post-Budget interaction with the Associated Chamber of Commerce and Industry (Assocham), the Finance Minister Mr. P Chidambaram said that interest rates on home loans up to Rs. 20 lakh may be revised and lowered down.

He said that 80 per cent of the home loans raised are within the range of Rs. 20 lakh and the rate of default on these loans is low. Also, the risk rate is at the bare minimum for these loans.