IDBI cuts floating home loan rate by 0.50%

mahikarnam · 08-12-2008, 01:06 PM

IDBI Bank has reduced its home loan floating interest rates by 0.50 per cent to 10.50 per cent.

The new rate will be applicable on fresh home loans disbursed between October 12 and December 31, the bank said in a press release issued.

IDBI has also launched a special 'buy now, pay later' scheme wherein buyers of properties under construction can choose to avail of a moratorium period of up to 18 months for payment of equated monthly instalments.

The bank has also decided to reduce its processing fees to a nominal Rs 1,000 during this period.

08-12-2008, 01:06 PM	#1 (permalink)
mahikarnam Status: Senior Member Join Date: Jun 2008 Posts: 176	IDBI cuts floating home loan rate by 0.50% IDBI Bank has reduced its home loan floating interest rates by 0.50 per cent to 10.50 per cent. The new rate will be applicable on fresh home loans disbursed between October 12 and December 31, the bank said in a press release issued. IDBI has also launched a special 'buy now, pay later' scheme wherein buyers of properties under construction can choose to avail of a moratorium period of up to 18 months for payment of equated monthly instalments. The bank has also decided to reduce its processing fees to a nominal Rs 1,000 during this period.

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