Private sector housing finance company India Infoline Housing Finance Ltd (IIHFL) has cut the interest rate on its home loans by 25 basis points to 9.90%, from 10.15% earlier. The reduced rates will be applicable with immediate effect.
Monu Ratra, CEO, IIHFL said, “The RBI has reduced repo rates by 50 basis points since January and as a leading housing finance company, we would like to pass on the benefits to our home loan borrowers.
Also, as a part of our efforts to bolster government’s focus on housing for all by 2022, we would like to ensure that home loan borrowers benefit from lower monthly installment outflows.
We believe, the home loan rate downtrend is likely to continue and would benefit small home buyers in the next few years, as the economic environment improves further.”