Sundaram BNP Paribas Home Finance reduces lending rates

Chennai, April 13 : City-based Sundaram BNP Paribas Home Finance Ltd on Monday announced a reduction of 20 basis points in its prime lending rate (PLR).

In statement issued here, the company said the reduction of 20 basis points in its PLR is in line with the current interest rate scenario both for the new and existing customers on variable rates of interest.

"The reduction in our interest rates is in line with the market and we hope that this would improve the sentiments of people buying homes and consequently improve the demand for financing homes," managing director Srinivas Acharya was quoted as saying in the statement.

Sundaram BNP Paribas Home Finance is a 50.1 percent-49.9 percent joint venture between Sundaram Finance Ltd and BNP Paribas.