Treading in the footsteps of State-run banks,
Indiabulls Housing Finance on October 10 slashed home loan rates by 0.15 per cent to 10.25 per cent. To woo customers, the government banks have reduced lending rates during the ongoing festive season.
The private sector mortgage lender’s new rate is applicable on loans under Rs 25 lakh and will remain in force till November 30, the company said in a statement. Indiabulls Housing is the first private lender to slash rates after a majority of the Government banks, including SBI, initiated similar moves on retail products over the last two days.
SBI, the market leader, offers the cheapest loan at 10.15 per cent among the mortgage lenders. IDBI Bank and Punjab National Bank have announced attractive home loan schemes for a limited period to attract customers. The Finance Ministry has advised PSU banks to cut lending rates in the retail segment to boost growth.
Leave a Reply
You must be logged in to post a comment.