The housing finance provider, National Housing Bank (NHB), has announced that it has aimed to sanction home loans worth Rs. 9000 crore in the coming six months in order to fulfill its annual loans disbursal goal of Rs. 17, 000 crore by June, 2013.
Talking on the issue, the Chairman and Managing Director of NHB, Mr. R.V. Verma said, "So far we have disbursed about Rs 8,000 crore. Our budget is to give loans of Rs 17,000 crore from July to June period. We are confident that we will be able to meet our target." Of its annual target, about 90 percent will be small ticket housing loans of amounts under Rs. 25 lakh.
He added that NHB normally offers loans to companies providing home loans, which they can use to refinance an individual's housing loans. He said, "We offer the loans at different rates and our average interest rate is around 9.25 per cent."
Talking about rural housing finance schemes, he said, "We offer special concessions for rural and low-income house groups. For the low-income group (LIG) houses priced up to Rs 5 lakh, the interest rate is 8.5 per cent. We also offer fixed interest rate on LIG for 15 years."