Indiabulls Financial Services, a financial service provider launched a special home loan scheme for the salaried class. Under this scheme it is offering 8.5% interest up to March 31, 2011, followed by 9.5% till 2012, the company said in a statement.
It said, subsequently from the third year onwards 9.5% floating rate will be charged.
Earlier, country largest mortgage lender HDFC had launched a dual rate home loan (DRHL), in which for the initial year fixed interest will be charged and later it will change to floating rate.
All the new home loan customers, to avail the new DRHL-4 offer have to apply on or before September 30 and take at least part disbursement before October 31.
Indiabulls Financial Services CEO Gagan Banga 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."
The borrowers can avail offer at 140 cities and towns across India.
"We plan to grow our home loans business by 40-45 per cent this fiscal and increase our market share from the current 4 per cent to 10-15 per cent by 2014," Banga added.
He said every year company is in the process of adding 25-30 cities to its distribution network and, also increasing the sales strength by 25-30 per cent, at present its sales strength is of 1500.
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Affordable Home Loan Schemes and Quick Home Loan Approval by Indiabulls Housing Finance
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