Indiabulls PLR Rates, Indiabulls PLR – Sep 2020

Indiabulls PLR Rate

6th August 2020 – RBI keeps Repo Rate unchanged at 4%

Current PLR rate of Indiabulls is 24.00%, which the bank fixes periodically based on its internal cost of funds and the current interest rates in the economy. Indiabulls benchmarks its interest rates for home loan and other loans to PLR rates.

PLR 24.00% * History

Indiabulls Interest Rates

Indiabulls Interest Rates
Home Loan Interest Rates 9.25% * Floating Detail
Loan Against Property Rates 10.50% * Floating Detail

PLR of Indiabulls

  • Indiabulls decides and fixes its own PLR from time to time.
  • RBI does not decide the PLR Rate of any NBFC or HFC. RBI only announces the repo rate, which influences the cost of raising new funds for the housing finance company. HFCs may or may not decide to change their PLR rate in response to changes in the repo rate.
  • Effective 1st April 2016, banks has been directed by RBI to fix their loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the banks fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. However, Housing Finance Companies and NBFCs continue to offer loans at PLR rates.
  • Indiabulls typically offers loans benchmarked at a discount to the PLR to arrive at its lending rate.

Indiabulls PLR Rate Trend

Date RBI Repo Rate Indiabulls PLR Rate
22nd May 20 0.4%
27th Mar 20 0.75%
04th Oct 19 0.25%
07th Aug 19 0.35%
06th Jun 19 0.25%
04th Apr 19 0.25%
07th Feb 19 0.25%
01st Aug 18 0.25%
06th Jun 18 0.25%
02nd Aug 17 0.25%
01st Feb 17 16.90% 0.15%
04th Oct 16 0.25%
05th Apr 16 0.25%
08th Oct 15 17.05% 0.25%
29th Sep 15 0.5%
02nd Jun 15 0.25%
14th Apr 15 17.30% 0.2%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
  • MyLoanCare regularly tracks RBI repo rates and PLR rates of Indiabulls to give past trend in the change in Indiabulls PLR rates as compared to the changes in the repo rates. Any borrower, who plans to take a PLR based loan should compare the past trends of PLR and MCLR rates of HFCs and banks to ensure that the lender they choose is prompt in revising their PLR or MCLR rates.
  • Based on an analysis and comparison of PLR rate trends of Indiabulls Current PLR Rate of Indiabulls is 24.00%, which was last revised on 01st Oct 18. On the other hand, current RBI Repo Rate is 4.00% which was last revised on 06th Aug 20.
  • It is not mandatory for Indiabulls to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

Indiabulls Interest Rates- Benchmarked to PLR Rates

  • Indiabulls PLR rate is notional interest rate to which interest rate on Indiabulls’s floating rate loans is benchmarked. Typically, all loans by Indiabulls are priced at a discount to the Indiabulls PLR.
  • Applicable rate of interest on all Indiabulls floating rate loans, such as home loans, loans against property, business loans, SME loans linked to PLR will vary with changes in its PLR from time to time.
  • Sometimes, Indiabulls may have different benchmark PLR’s by customer segment and by product. E.g., it may have one PLR for retail and another one for corporate.

Indiabulls Home Loan Interest Rate and PLR

  • Every floating rate home loan sanctioned by Indiabulls is benchmarked to its PLR rate.
  • The applicable rate of interest on a floating rate home loan will consist of two parts – the applicable PLR and a spread or margin (which is typically negative in case of NBFC’s and HFC’s).
  • Your loan from Indiabulls will be repriced periodically depending upon change in PLR. So, a home loan from Indiabulls will be repriced every time the PLR of changes. Say, you take a loan at PLR minus 6.75% spread when the PLR is 24.00%. This loan will initially be priced at 17.25%. Whenever Indiabulls changes in PLR rate, the applicable rate of interest will change correspondingly. So in the same illustration, if Indiabulls decreases its PLR by 0.5%, the loan interest rate for existing borrowers will also decline by 0.5% and new applicable interest rate on the loan will be 16.75%.

Compare PLR Rate Movement

    Compare Indiabulls PLR Rates with Other Banks

    About Indiabulls

    • Indiabulls's registered office is located at Indiabulls Housing Finance Limited, Indiabulls House, 448-451, Udyog Vihar, Phase - V, Gurugram - 122001, Haryana.
    • Indiabulls's management is led by its CEO Mr. Sameer Gehlaut.
    • Its current Base Rate is 9.75%, which was last revised on 01st Aug 20.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
    Calculate Your Income Tax