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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Redefining the age of minors from 18 to 16 makes sense

    An issue that’s been simmering since the horrific gangrape of December 2013 is finally being laid to rest.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The difficulties with war history

There have been a series of commemorative events lately. Last ...

Anish Chakraborty

Betting big on Pascal’s wager

Blaise Pascal was a 17th century French philosopher mathematician and ...

Bubbles Sabharwal

The five cardinal rules of urban snobs

Believe it or not there is the unspoken-of society of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture