Now you can get a loan for not only buying a house but also for house warming.
Federal Bank has launched a new product “House Warming Loan” for its customers (both existing and new) for meeting house warming and other related expenses.
The loan will be available on acquisition/ completion of house/ flat. The loan is offered at 2 per cent over the housing loan rate.
The quantum of loan can be up to 5 per cent of the Housing Loan limit with a maximum of Rs 2 lakh, the private sector bank said in a statement.
D. Sampath, Additional General Manager and Head, Retail Business Department, said “The timely help in the form of house warming loan to housing loan borrowers will enable customers to conduct house warming functions without resorting to raising short term loans at high rate of interest.”
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.