The Aerocity project in Chandigarh has received a good response and banks have lowered their interest rates in financing the earnest money.
The largest lender of the country, State Bank of India has slashed interest rates to 7.5% from 8.25%.
According to SBI spokesperson Satish Sharma, “A large number of people come to the bank everyday. We are expecting the rush to increase before the last date for submission.”
Interest rates on Punjab National Bank have been reduced by 7.5%.
The Oriental Bank of Commerce has lowered its rate of interest to 7.4 per cent and the Bank of Baroda to 7.5 per cent.