Indiabulls housing increases benchmark rate by 20 bps

Updated on December 3, 20181 min read
Indiabulls Housing

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: 

  1. Increase loan tenure without affecting EMI. While Indiabulls would recommend this, it does not help reduce interest rate burden
  2. 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.

Get in touch with us today if you have an Indiabulls housing loan and we will guide you to the option best suited for your needs.

 


Suma Ganesh

Suma Ganesh

Suma is an MBA in Finance and Marketing from ICFAI, Bangalore. She worked as an investment advisor to retail and high networth clients for nearly 7 years at Allegro Capital Advisors Pvt Ltd. This gave her a first hand understanding of the needs of an individual customer. With this edge, she moved on to Adi FinShiksha Pvt Ltd, where she trained financial advisors to manage their clients' investments and financial needs. With deep understanding of customers and their advisors, Suma then moved on to writing content in the space of personal finance. she is currently working as part of the content creation team at SwitchME, addressing the needs of home buyers and home loan borrowers.
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