Under tile new type of a loan of Rs 30 lakh under will be charged an interest rate of 10.65 percent annually, while more than Rs 30 lakh Rs 75 lakh but under will be charged 11 percent, a statement here, he said.
A loan of Rs 75 lakh above will be charged 11.50 percent, he said.
Mortgage major HDFC was out with a similar announcement last week, after July, the Reserve Bank warning hiking their rates 26 basis points higher key for the expected 50.
The RBI has raised its key rate from a record 11 times since March 2010 in order to control the number of uncomfortable inflation, which stood at 9.44 percent in June.