Indiabulls Housing Finance hikes home loan rates by up to 20 bps

The Reserve Bank of India (RBI), in its latest monetary policy review, kept key rates unchanged. However, it is expected that banks and other lending institutions will continue to hike interest rates on loans. On Tuesday, Indiabulls Housing Finance, announced an increase in interest rates on home loans by up to 20 basis points. The housing finance company announced this hike in a filing to BSE.

Indiabulls Housing Finance announced an increase in its interest rates on home loans by 20 basis points. "The increase in the lending rates reflects the rise in cost of funds," the company said in its filing to the stock exchange.

According to the filing, the rate of interest on new home loans for women applicants/co-applicants is 8.8 percent for loans of up to Rs 35 lakh and 8.95 percent onwards for loans above Rs 35 lakh.


"In August 2018, the lowest slab was increased from Rs 30 lakh-35 lakh, allowing a larger pool to reap the benefits of the best possible rate," it said in its filing.

Last week, HDFC and LIC Housing Finance (LICHFL) had raised their retail prime lending rate by 10 basis points.

HDFC's new rates vary from 8.80 to 9.05 per cent on various slabs of loans.

LICHFL is offering an interest rate of 8.85 per cent on home loan up to Rs 50 lakh for salaried and professionals. For salaried women borrowers, the new rate are 8.70 per cent for loan up to Rs 10 lakh.