The Reserve Bank of India (RBI), in its latest monetary policy review, kept key rates unchanged. However, it is expected that banks and other lending institutions will continue to hike interest rates on loans. Indiabulls Housing Finance, announced an increase in interest rates on home loans by up to 20 basis points. The housing finance company announced this hike in a filing to BSE.
Indiabulls Housing Finance announced an increase in its interest rates on home loans by 20 basis points. "The increase in the lending rates reflects the rise in cost of funds," the company said in its filing to the stock exchange.
According to the filing, the rate of interest on new home loans for women applicants/co-applicants is 8.8% for loans of up to Rs35 lakh and 8.95% onwards for loans above Rs35 lakh. "In August 2018, the lowest slab was increased from Rs30 lakh-Rs35 lakh, allowing a larger pool to reap the benefits of the best possible rate," it said in its filing.