The Gagan Banga-run lender said the lending rate hike follows the growing cost of funds led by the second consecutive 25-bps repo rate hike by the RBI this month and the Gsec yields moving to 7.80 per cent levels.
"The revised rate of interest on new home loans for women applicants/co-applicants will now start at 8.70 per cent for loans of up to Rs 35 lakh and 8.80 per cent onwards for loans above Rs 35 lakh. The interest rates will be 5 bps higher for non-women applicants," it said in a statement.
The company has also expanded the lowest slab from Rs 30 to Rs 35 lakh, allowing a larger pool to reap the benefits of the best possible rate.
The increase in rate will be applicable for both new and existing customers, it added.
****************** Bajaj Allianz in pact with Vijaya Bank for sales tie-up
Bajaj Allianz General Insurance today entered into a bancassurance deal with Vijaya Bank as part of a corporate agency agreement which will enable distribution of Bajaj Allianz's products through the bank's branches.
Under the tie-up, Bajaj Allianz will offer personal lines of insurance products such as health, personal accident, home, motor and travel along with commercial line of insurance products like property, marine, liability and engineering insurance etc to the bank customers.
****************** IDBI Federal Life launches income protection plan *
Private life insurer IDBI Federal Life today launched a new income protection plan aimed at helping customers achieve their financial needs at every stage of life.
Being a non-linked non-participating term plan, it has the flexibility of regular premium payout with annual increase in payout on one hand and being a term plan it offers replacement of monthly income, the company said.
Key benefits of the plan include financial protection to the family with life cover, lump sum benefit, increasing monthly income benefit, flexibility to choose premium payment term, and select the policy term to suit one's financial needs among others, it added.
****************** Honda launches special editions of WR-V, City, BR-V *
Honda Cars today launched special editions of its three popular models - City, WR-V and the BR-V - to mark the beginning of festive sales.
While the WR-V edition, called the Alive Edition, is based on S grade; the new City edition, called the Edge Edition, is based on SV grade. The new BR-V is Style edition, the company said in a release.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)