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Our Bureau

Mumbai, April 18

Industrial Development Bank of India Ltd (IDBI) has raised its Retail Reference Rate (RRR), the benchmark for pricing its floating home loans, by 75 basis points to 11.25 per cent effective April 10.

For all the existing home loan customers, the floating interest rates have moved up by 75 basis points to between 11 per cent and 11.25 per cent per annum depending on the category of the borrowers, said a bank release. The fixed rate of interest on 3-year home loans will rule between 13.5 per cent and 14 per cent per annum while that for 5-year loans will range between 13.75 per cent and 14.25 per cent per annum.

More Stories on : Housing Finance | Private Banks

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