Federal Bank launches loan schemes for ‘house warming’
By Joseph Samson
Nov 6, 2012
Print    Email    RSS   

Now, borrow money for not only buying your dream house but for house warming as well.

The Kerala based Federal Bank has introduced a loan scheme called "House Warming Loan", which is meant for its existing as well as new customers. The loan amount can be used for meeting the expenses of house warming and related activities.

The scheme will be provided on acquisition of a built house or completion of house /flat. Its interest rate has been kept at 2 percent above the home loan interest rate. The maximum loan amount that can be availed under the scheme is up to 5 percent of the home loan amount. But, the maximum amount should not exceed Rs. 2 lakh.

The bank issued a press release announcing the launch of the new loan product. On the matter, the Additional General Manager and Head (Retail Business Department) of the private sector bank said that "The timely help in the form of house warming loan to housing loan borrowers will enable customers to conduct house warming functions without resorting to raising short term loans at high rate of interest."

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

 Select a product:

The Home Loan Rate Pendulum
Home Loan: A way to reduce your taxable...
Evaluate Hidden costs before buying a house
Top up loans: toppings on your home loan
How to go about ‘Leveraged Investing’

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

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