Loans for home appliances shoot from 1% in 2020 to 37% in 2024: Survey
Masses are inclined towards purchase of consumer durables through loans, with the home appliances loans rising from just 1% in 2020 to 37% in 2024, a recent survey said.
Joining the lending rate cut spree, foreign lender Citi India on Friday reduced its home loan rate by 0.7 per cent.
It will reduce the interest rate to 8.80 per cent from 9.50 per cent, effective January 9, Citi India said in a statement.
The reduction in the home loan rate is reflection of our commitment to consumers who may be interested in purchasing under-construction or ready-to-move-in property, Rohit Ranjan, Head of Secured Lending, Citi India said
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The final pricing will be based on the loan amount, product or facility type offered, and internal Citi loan risk assessment parameters, it added.
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