Indiabulls Housing Finance reduces rates by 45 bps

MUMBAI: Indiabulls Housing Finance has become the first housing finance company to join the rate war, triggered by banks since Sunday.
The lender has reduced its home loan rate by 45 basis points to 8.65%.

Gagan Banga, Vice Chairman and Managing Director, Indiabulls Housing Finance confirmed the matter. " IBHFL's diversified funding mix and ALM-matched nature of our liabilities has enabled the company to reduce home loan rates by 45 bps," he said.

Home loan rates are now lowest in six years. Indiabulls Housing has held an ALOC meeting earlier in the day.

IBHFL is focussed on the affordable housing segment in urban India, and also has established reach into Tier II and Tier III cities with 'Smart City Home Loan' led by technology leveraged lean branches.

The new interest rates for Indiabulls Home Loans: