Indiabulls housing increases benchmark rate by 20 bps
Updated on December 3, 20181 min read
Indiabulls Housing has just announced a raise in its benchmark lending rates for mortgage loans by 20 bps. For loans upto 35 lakhs, the interest rate is now 8.8% per annum while loans of higher value are available at interest rates of 8.95% pa.
This news has come after Indiabulls announcing that there is no liquidity crunch and no slow down in disbursements But many believe that the step has been taken due of lack of funding in the company and the sector at large.
If you are an existing home loan customer at Indiabulls, here are your options:
Increase loan tenure without affecting EMI. While Indiabulls would recommend this, it does not help reduce interest rate burden
Or, Apply for a home loan transfer to another lender for lower interest rate and terms. This way over a 20 year period you will save well over a few lakhs.
As a matter of fact, a customer of SwitchME went on to saving up to Rs.10 Lakhs by simply switching over his loan to LIC HFL at the right time with our advise.
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