The Hindu Business Line : Indian Bank earmarks Rs 81 cr for home loans

Kochi, July 10 Indian Bank has earmarked Rs 81.45 crore towards housing loans in Kerala during the current financial year as against Rs 59.8 crore disbursed in the previous fiscal.

The bank has sanctioned Rs 31.13-crore loans in the first quarter of the current fiscal, Mr R. Radhakrishnan, Deputy General Manager, Circle Head, Kerala, Indian Bank, said. Its NPA level for home loans in the State is less than 1.5 per cent.

The bank, he said, has formulated various schemes in the housing loans segment for the purchase of houses, flats as well as land for house construction. It is also providing loans to extend, repair, renovate or alter an existing house or flat. The interest rates of the bank for housing loans are low compared to any other bank in the country, he added.

The total business of the bank in the State last year was to the tune of Rs 3,000 crore and of this, deposits constituted Rs 2,000 crore.

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