Introduction of dual interest rate system in India by foreign banks
By Joseph Samson
Oct 28, 2013
Print    Email    RSS   

Foreign banks will introduce the dual interest rate system in India to attract more housing loan borrowers though the interest rates are in increasing mode. The housing loan products have already been rolled out by the leading foreign banks such as Hongkong and Shanghai Banking Corporation, Standard Chartered Bank, Deutsche Bank and Citibank by offering home loans on the fixed interest rate system for the period before the activation of the floating interest rate system. The reliable source of one of these banks revealed that these do not resemble the ‘teaser rate’ housing loan plans that had increased the concerns of the asset quality, being far more translucent.

Mortgage head of the foreign bank mentioned that after analyzing the capacity of the consumer to repay the loan the eligibility will be finalized. He further added that they will provide dual rate loan only after they feel that the consumer is able of servicing it even at 50 basis points (bps) over the fixed rate.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Save tax with ELSS
NRI Banking in India
The Home Loan Rate Pendulum
Bank of Maharashtra reduces home loan rates
The home loans interest rate story: The...

what is the balance loan amount on my Loan a/c...
email;, are you...
HSR LAYOUT ℂall ℊiℝls abhi 7411094262 ℂall...
how can applay for DSA. any age, qalification,...
How to view my home loan account statement
how to get status of home loan

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive