Indiabulls Housing Finance has reduced its lending rates by 0.25% to 9.60% per annum from the existing 9.85% per annum. The new rates would be applicable from October 7 to all new home loans. With the new rate of interest, customers can now avail home loans with EMIs starting at Rs 848 per lakh.
The rate cut has been triggered by the Reserve Bank revising downward its benchmark short-term lending (repo) rate by 0.50% in its fourth bi-monthly monetary policy review late last month.
Indiabulls Housing Finance, wholly owned subsidiary of Indiabulls Financial Services (IBFSL), is a registered HFC by National Housing Bank (NHB). It has presence through 78 branches in 57 cities across the country.
