IndiaBulls Financial has launched a special home loan scheme particularly designed for the employed class. The scheme gives home loans at an interest rate of 8.5%.
The scheme would let the borrower pay interest of 8.5% for the 1st year, 9.5% for the 2nd year and after that the rate will be a floating rate at 9.5%.
Gagan Banga, Indiabulls Financial Services CEO said, “Introduction of this new home loan scheme at 8.5 per cent is a move to augur the aggressive growth plans, with an annual target of Rs. 6,000 crore worth new home loans disbursement”.
He said, “We plan to grow our home loans business by 40 to 45 per cent this fiscal and increase our market share from the current 4 per cent to 10-15 per cent by 2014”.