Indiabulls HF waives off processing fee for Kerala customers

: Indiabulls Housing Finance Ltd today said it has waived processing fee for home loans and penalty charges collected for delay in payment of EMIs for its customers in Kerala for August and September.

The company has also set up a special team to fast track sanction of loans and disbursal of finance schemes to customers affected by the floods in the neighbouring State, a company statement said.

Indiabulls said it was also postponing by two months, the interest rate hike post the increase in repo rate, for its customers in Kerala.

"The interest rate hike, which is applicable for all customers post the increase in repo rate, has been deferred by two months specifically for customers in Kerala", it said.

The company said it is conducting an employee contribution drive to support the relief operations and to help the people of Kerala.

"The company has urged its employees to voluntarily contribute one day's salary (or more for senior employees) for this cause", the statement added.

Chennai-based mobile retailer Poorvika Mobiles has donated Rs 25 lakh to the Kerala Chief Minister Distress Relief Fund.

Senior Manager of the firm Sebastian Vijayaganesh handed over the cheque to Chief Minister Pinarayi Vijayan in Thiruvananthapuram recently, a press release said.