Indiabulls Housing Finance Ltd increases 20 bps increase in interest rates

Indiabulls Housing Finance Ltd. (IBHFL), the country's second largest housing finance company announced an increase in interest rates on home loans by 20 basis points. The increase in the lending rates reflects the rise in cost of funds.

The rate of interest on new home loans for women applicants/co-applicants is 8.80% for loans of upto 35 lakhs and 8.95% onwards for loans above 35 Lakhs. The interest rates would be 5 basis points higher for non-women applicants. In August 2018, the lowest slab was increased from from 30 lakhs to 35 lakhs, allowing a larger pool to reap the benefits of the best possible rate.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.944.4 as compared to the previous close of Rs. 939.85. The total number of shares traded during the day was 570444 in over 12027 trades.

The stock hit an intraday high of Rs. 976 and intraday low of 924.05. The net turnover during the day was Rs. 541095645.