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Our Bureau

Bangalore , Oct. 28

IDBI Bank expects to raise home loan rates by 50 basis points in the next 6-8 weeks, in line with recent trends.

Growth will continue however, said Mr Prashant Joshi, Head, Retail Asset, IDBI Bank, who added that the bank's total home loan portfolio of Rs 4,000 crore was expanding at the rate of Rs 200 crore, and could touch Rs 6,400 crore. It will take a month or two for us to raise the rates and we will absorb the impact until then, said Mr Joshi who indicated the trend would only continue.

The bank has introduced a festival season home loan scheme — `HouseFull' — where borrowers will get to participate in a scheme offering modular kitchen assembly, TV, refrigerator and a host of consumer durables, according to Mr Poorna Prakash, Regional Head (South), Retail Assets.

More Stories on : Housing Finance | Interest Rates

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