The home loans provider, National Housing Bank, has slashed its prime lending rate (PLR) to 7.5 percent, from the existing 10 percent. The new rate will be brought into effect immediately.

The floating rate loans linked to its PLR will now attract interest rates lower by 25 basis points. In addition to this, following its asset liability committee meeting (ALCO) the housing finance lender has slashed its rates on special refinance loans by 25 bps.