IndiaBulls Financial has come up with a special home loan scheme especially targetted to the salaried class. The scheme offers home loans at 8.5% interest.
The scheme would allow the borrower to pay interest of 8.5% for the first year, 9.5% for the second year and there after the rate would be a floating one at 9.5%.
"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," Indiabulls Financial Services CEO Gagan Banga 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," Banga said.