Monday 23 September 2013

Canara Bank launches two new housing loan schemes for NRIs, HNIs

Canara Bank launches two new housing loan schemes for NRIs, HNIs

Canara Bank launched two new housing schemes for Non-Resident Indians (NRIs) and High Networth Individuals (HNIs), in a bid to cash in on the festive fervour.

The demand from NRIs for houses has increased considerably and enquiries with regard to housing loans from NRIs with builders have grown by 20 per cent at present.

Home loan of up to Rs 30 lakh would be available to an NRI at the base rate of 9.95 per cent, while loans in the bracket of Rs 30-75 lakh will be available at a rate of 10 per cent. Loans of above Rs 75 lakh would attract Rs 10.20 per cent.

Further, the demand from HNIs for housing loans of above Rs 1 crore has also increased. The premium housing loan scheme is exclusively for HNIs having gross annual income of Rs 25 lakh and above.

The minimum loan amount under the scheme is Rs 1 crore and the rate of interest charged would be 10.05 per cent.


Processing charges for both the schemes have been waived till October 31. More details here.

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