NEWS & ADVICE : HOME LOANS
NBH introduces a special scheme to encourage fixed rate home loans
By Joseph Samson
Mar 5, 2013
Print    Email    RSS   

The National Housing Bank (NBH) has rolled out a special refinance scheme for banks and housing finance companies (HFCs) to encourage fixed rate home loans for the low-and moderate-income segments.

Banks and housing finance companies giving fixed rate home loans up to Rs 10 lakh can get refinance for 15 years from NHB at a concessional interest of 8.60-8.75 per cent, according to Mr. R V Verma, Chairman and Managing Director of National Housing Bank.

Fixed rate home loans are aimed at justifying the interest rate risk that retail borrowers face, Mr. Verma added, on the sidelines of a conference where MoUs were signed between Credit Guarantee Fund Trust for Low Income Housing and six institutions, including Bank of Baroda and IDBI Bank.

Mr. Verma also observed that over 90 per cent of the home loans is on floating interest rate due to retail customers' preference.

"We need to create awareness about the refinance scheme among the lending institutions. Home loan borrowers in the low/moderate-income segments could be benefited if they get fixed rate loans", Mr. Verma said.


 


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Identify the cheapest home loan offer
Hybrid loans – are they beneficial?
Make your home loan repayment easier
Carnival of Indian Personal Finance Blogs #4
Home loan rates likely to remain stable


High Profile Escorts In Haridwar...
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
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