CHENNAI, Feb 11: On the back of RBI reducing the repo rate and National Housing Bank reducing Prime Lending Rate (PLR), Sundaram BNP Paribas Home Finance Limited, today announced the company has reduced its PLR by 0.15 per cent, thus making home loans cheaper.
A company release here said this reduction would be applied on all existing loans carrying variable rates of interest and would be effective from February one, 2013.
Sundaram BNP Paribas Home Finance is the Home Finance subsidiary of Sundaram Finance and has over 40000 retail customers.
Sundaram Home Finance’s Home Loan Disbursements for the first nine months ending December 31, 2012, went up by 39 per cent to Rs.1891 crore.
The company’s Net Profit for the same period went up by 55 per cent to Rs 98.94 crore.
During the last quarter, the company expanded its presence to 96 offices in India.
(UNI)
Follow our WhatsApp channel