Indiabulls Housing Finance (IBHFL) has launched its ‘Smart City Home Loans’ in tier-II and tier-III towns, with an average ticket size of Rs 15 lakh, with maximum up to Rs 40 lakh. IBHFL, which has average ticket size of Rs 28 lakh, has increased it to Rs 50 lakh, thereby increasing its home loans penetration, the company said.
IBHFL also announced a cut of five basis points in its home loan rates with prime home loan at 9.3%, IBHFL said in a release.
“We will both increase the breadth of our target segment in existing locations as well as venture into tier-II and tier-III towns and cities with Smart City Home Loans,” IBHFL Vice Chairman and Managing Director Gagan Banga said.
A healthy growth in loan assets helped IBHFLto report a net profit of Rs 684 crore in the July-September quarter, up 23% from Rs 556 crore in the same period in the year ago period.
Published 22 October 2016, 17:25 IST