By Accommodation Times News Services
These days the housing finance companies seem to competing amongst and launching new schemes to attract home loan borrowers. Tata Capital Housing Finance has launched a new low interest rate scheme for women borrowers, following the trend of other rival HFCs. Tata capital is offering home loan at 10.15% for women customers for loan up to Rs 40 lakhs. The finance company would charge 10.50% for other borrowers, the bank announced through a statement issued recently.
As per the banks statement issued to media, Tata Capital Housing Finance mentioned that the scheme is available from 10th February, 2014 till 8th March, 2014, i.e. women’s Day. To avail the benefits of this offer, a woman applicant must have title to the property, ether single or jointly and be a primary applicant of the loan. Explaining their aim to launch the special home loan offer, Mr. R. Vaithianathan, said,
“Women are an integral and important part of our society, and they have taken great strides ahead in terms of being financially independent. Owning a home should no longer only be a man’s dream and our aim here is for women to have the financial empowerment to buy their dream home. ”
Two months before State Bank of India, the largest nationalized bank of the country launched the schem for the first time, where they were offering a fixed rate of 10.10% for loan up to Rs 75 lakhs lakhs and 10.25% for loan above Rs 25 lakhs. These rates are 5 basis points lower than other customers. LIC Housing Finance recently ended its special scheme for women borrowers where it offered a fixed rate of 10.10% for loan up to Rs 75 lakhs. It offered the scheme, which ended on January 31, 2014.