Indiabulls Housing Finance (IBHFL), country's second largest private housing finance company has reduced the interest rates of their home loans to 9.90%, a reduction of 20 basis points from its existing rate of 10.10%. The reduced rates will be applicable from Apr. 14, 2015 onwards.
Gagan Banga, vice chairman & MD, IBHFL said, ''The RBI has reduced the repo rates twice since January, giving thumbs up to the government's path of fiscal consolidation. One of the key beneficiaries of the repo rate reduction would be home loan borrowers who would see a reduction in their EMI's outgo. As a leading HFC passing this benefit to our customers is a commitment to our long term relationship with them, and we hope that these benefits bring them closer to owning a home of their own.''
Shares of the company gained Rs 580.45, or 0%, to settle at Rs 580.45. The total volume of shares traded was 42,399 at the BSE (Monday).