New Delhi: Indiabulls Housing a private lender curbs its home loan by 0.15 pc to bring down the lending rate to 10.25 pc, following the public sector institutes during the festive seasons.

The new rate plan will be valid on loans under Rs 25 lakh and will be relevant till November end.

Indiabull being the first of its own kind to decline the interest rates after big boys in banking sector initiated the move to attract customers.

The Public sector Bank SBI, offers the cheapest loan at 10.15 pc, with other banks like IDBI and PNB following the leader. The Finance ministry has also asked the PSU banks to cut down the interest rate to boost the economy.