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Monday, November 5, 2012

Federal bank offers loan for house warming

Now you can get a loan for not only buying a house but also for house warming.

Federal Bank has launched a new product “House Warming Loan” for its customers (both existing and new) for meeting house warming and other related expenses.

The loan will be available on acquisition/ completion of house/ flat. The loan is offered at 2 per cent over the housing loan rate.

The quantum of loan can be up to 5 per cent of the Housing Loan limit with a maximum of Rs 2 lakh, the private sector bank said in a statement.

D. Sampath, Additional General Manager and Head, Retail Business Department, said “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.”


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