Indiabulls Housing Finance ups home loan rates by 20 bps

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   Indiabulls Housing Finance on October 9, said it has raised interest rates on home loans by 20 basis points, owing to higher funding costs.

   The new rates on home loans for women applicants and co-applicants is 8.80 percent for loans of up to Rs 35 lakh and 8.95 percent onwards for loans above Rs 35 lakh, the mortgage lender said in a release.

   The interest rates would be five basis points higher for non-women applicants, it added.

   “The increase in the lending rates reflects the rise in cost of funds,” the company said.

   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 percent on various slabs of loans.

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

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source: Economic Times

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