Tata Capital offers temporary fee sop to new home loan seekers

Non-banking lender Tata Capital today said it has waived processing fee for salaried class seeking home loans from the company, but for a limited period till January 26.

Under the scheme, a customer will have to pay Rs 5,000 as fee with the application, which will subsequently get reimbursed or adjusted against the interest payments on the home loan, Tata Capital said in a statement.

Due to slowdown in the corporate loan pick-up, many banks have been focusing on the retail sector, especially the highly secure mortgage loans.

A slew of banks, both from the public and private sector space and non-bank ones like HDFC, have been aggressively attracting customers with multiple offerings, including lower rates.

There are also reports of a slowdown in the realty sector, which some lenders, say is affecting home loan demand. The gloom on the economic front, which hurts the confidence of a potential borrower, is said to be one of the reasons for the slowdown.

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