Limited period interest rate cut for home loans by India Bulls

Indiabulls Housing Finance has reduced home loans rates by 10 basis point to 9.55% for a limited period as a festival offer and waived off the processing fee for loans upto Rs 28 lakhs. The housing finance company said on Monday that it will charge 9.55% for both men and women applicants.

The offer is valid till November 15 as a special offer for coming festivals – Diwali and Hindu New Year that is due in the next fortnight. This is the second round of rate cut. The company had lower home loan rates by 25 basis points a fortnight ago in response to a reduction in policy rates by the Reserve Bank of India in October.

Indiabulls was offering 9.65% on home loans to men and 9.60% to women borrowers. The new rates announced by Indiabulls on Monday are lower than that offer by industry leader HDFC. At present, HDFC is charging 9.60% for women and 9.65% for others.

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