Indiabulls Housing Finance (IBHFL), the countrys second largest housing finance company, has reduced its interest rates for existing borrowers on floating rates by 15 basis points (bps). The new rates will vary according to a customers existing rate and the contract date and will effectively be in the range of 8.90 percent on the lowest side and to 10.50 percent on the higher side.

The reduction will benefit all its existing home loan customers, including residents and NRIs/PIOs. This reduction comes on the heels of it reducing the rates for new women borrowers earlier this month by 45 bps.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).