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Indiabulls Housing Finance Limited announces an increase of 20 basis points in Home Loan Interest Rates
Jul 15, 2020
Rate of interest for borrowers/co-borrowers to start at 8.70% for loans of up-to 35 lakhs
4th August 2018: Indiabulls Housing Finance Ltd. (IBHFL), the country’s second largest housing finance company announced an increase in interest rates on home loans by 20 basis points. The increase in the lending rates comes with the growing cost of funds led by the consecutive raise on repo rate by the RBI - 25 basis points to 6.50% earlier on Wednesday, and the Gsec moving to 7.80% levels.
The revised rate of interest on new home loans for women applicants/co-applicants will now start at 8.70% for loans of up-to 35 lakhs and 8.80% onwards for loans above 35 Lakhs. The interest rates would be 5 basis points higher for non-women applicants.
Also notable is the expansion of the lowest slab from 30 lakhs to 35 lakhs, allowing a larger pool to reap the benefits of the best possible rate.
The increase in rate will be applicable for both new and existing customers of the company. The company also announced that it would be communicating the increase in the rates via SMS’s and Emails to all its existing customers to ensure that the information is passed on till the last mile.About Indiabulls Housing Finance Limited
IBHFL is India's 2nd largest Housing Finance Company. IBHFL enjoys the highest long-term credit rating of AAA from all of the four leading rating agencies in India. IBHFL has a balance sheet size of Rs. 138,235.9 Cr. and provides quick, convenient and competitively priced home loans in the affordable housing segment.