Saturday, October 1, 2011

Home loan cos interdict teaser loans

New Delhi:

The biggest housing finance companies such as ICICI and HDFC and several other banks are into any planning to come out with the attracting schemes for home buyers offering dual interest rate housing loans on the back of higher provisioning norms stipulated by the RBI for such advances – effecting a virtual ban on one of the most controversial products dreamed up by their marketing departments.
According to Edelweiss Housing Finance (EHFL) Executive Vice-President Anil Kothuri “as the requirement for provisioning for the dual rate loans, it is unlikely that other financial institutions will come up with dual housing loan rates,”`
Approx fifteen days before EHFL has launched a dual interest rate home loan plan is considering a review of the scheme, he added.
In the beginning of this month, ICICI Bank and HDFC came out with dual rate schemes, so that they can fetch the bigger part of the prospering housing finance market.




Posted: 30 Sep 2011 05:49 AM PDT

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