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Indiabulls Housing Finance has reduced its interest rates on home loans by 5 basis point (bps) to 9.85 per cent from 9.9 per cent earlier.
The new rates will be applicable for all new home loans w.e.f. June 17, 2015, the private housing finance player said in a statement.
Gagan Banga, Vice-Chairman and MD, said, “Reduction of 5 basis point interest rate in our offering is an effort to pass on all benefits to our customers. We believe that with positive economy and falling interest rates, affordable housing will receive an impetus and we are poised to cater to this expected increase in demand.”
With the revised interest rates, customers can now avail themselves of home loans with EMIs starting at Rs 867 per lakh. Additionally, customers also have a choice of opting for fixed or floating rates for their home loans, the non-banking financial company (NBFC) further added.
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