The Hindu Business Line : Canara Bank exclusive housing loan for KWA employees

THIRUVANANTHAPURAM: Canara Bank has announced the launch of a housing loan scheme designed exclusively for the employees of the Kerala Water Authority (KWA).

According to a bank press release, the scheme will be open to all KWA employees who have put in a minimum, continuous service of two years. The maximum loan amount for the construction or purchase of a house will be 60 times the basic pay of the applicant.

For loans intended to enlarge the existing houses, the maximum amount would be 30 times that of the applicant's basic pay, while for repairs and renovations it would be 20 times subject to a maximum of Rs 7.5 lakh, the release said.

The rate of interest charged on loans below Rs 5 lakh is 7.75 per cent and over Rs 5 lakh is eight per cent.

More Stories on : Housing Finance | Human Resources | Kerala

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