Sundaram BNP Paribas offer spl rate of interest on home loans

Sundaram BNP Paribas Home Finance has launched a new scheme for funding rural houses at a concessonal rate of 9.60 per annum for women, SCs and STs, the company said today.

"Sundaram BNP Paribas Home Finance launched a new scheme for scheduled castes/scheduled tribes and for properties held in the name of women (either as owner or co-owner) will be entitled to a concessional rate of 9.60 per annum," the Chennai-based company said in a statement.

The rate of interest would be fixed for seven years and converted to floating rate of interest thereafter, it said.

"Under this scheme, the upper cap of loan amount has been placed at Rs 15 lakh for acquisition or construction of residential dwelling units", it said, adding the loans for home improvement and extension under this scheme would not exceed Rs 5 lakh.

"Considering the thrust the new government is placing on housing for all, we feel that the need for mortgage credit would also increase. Our close to customer strategy with focus on expanding our reach to tier II and III towns across India will drive our disbursement growth in rural housing segmet", Sundaram BNP Paribas Home Finance, Managing Director, Srinivas Acharya said.

Sundaram BNP Paribas Home Finance is 50.1%-49.9% joint venture between Sundaram Finance and BNP Paribas. The company currently has over 100 offices across the country, the release said.

EDITORIAL OF THE DAY

  • Modi’s interview with Times Now failed to reveal the mind of the man

    For a prime minister, who prefers monologue and one-way conversation on twitter and radio to long-winded one-on-one interviews, Narendra Modi’s 85-m

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Teachers must accept innovation

University teachers had been complaining for the past two years ...

Zehra Naqvi

How does a bird learn to sing?

There’s nothing like bir­dsong to give you a taste of ...

Dharmendra Khandal

The unfortunate death of a tigress & its repercussions

In nature it is not easy to gather investigative evidences, ...