NEWS & ADVICE : HOME LOANS
Central Bank of India inks deal with Tata Housing
By Joseph Samson
Feb 23, 2012
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To offer home loan scheme specially meant for pensioners, Central bank of India has inked a deal with Tata Housing. The scheme has been christened as CentHome Swabhiman Plus and is still to be approved by RBI.

Through this scheme, the bank will offer home loans to the people who fall in the age group of 55-70. Such borrowers will be offered special benefits as the bank will not levy any processing fees on the loan sanctioned under the scheme.

Also, the interest rate that will be offered to the customers will be very attractive. The interest rate applicable on the loan amount upto Rs. 30 lac will be the same as the prevailing base rate of the bank. A loan over Rs. 30 lac will attract interest rate of 0.25% above the base rate.

The General Manager of Central Bank of India, Mr. R. Sangapure said, "We have signed an agreement with Tata Housing for our newly developed home loan product that will be offered to the pensioners at the upcoming Tata Housing's project at Washim on Mumbai's northern outskirts."

A township is being developed by Tata Housing at Washim. In the township around 150 units are being developed for the disposal of pensioners.


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