mumbai icici bank has reduced home loan rates for loans upto rs 30 lakh or loans which are classified in the affordable housing category by 30 basis points one basis point is 001 percentage point with this reduction salaried borrowers will get home loans up to rs 30 lakh at 840 while women borrowers will pay 835 interest housing development and finance corp hdfc also reduced its interest rate on loans up to rs 30 lakh by 15 basis points for women borrowers and 10 basis points for all others hdfcs loan rate is now on par with icici at 835 for women borrowers and 840 for other borrowers icicis announcement also follows a similar cut by state bank of india sbi last week sbi had reduced home loan rates up to rs 30 lakhs by 25 basis points to 835 from 860 the rate cuts by these lenders are to take advantage of the central governments push towards affordable housing the modi government envisages housing for all indians by 2022 which is the year india completes 75 years of independence the new rates for both hdfc and icici are effective from monday