Money & Banking

Piramal Capital and Housing Finance launches parent child joint home loan product -‘AdvantAGE’

BL Internet Desk Mumbai | Updated on December 26, 2018 Published on December 26, 2018

Piramal Capital and Housing Finance Ltd. (PCHFL), a wholly owned subsidiary of Piramal Enterprises Ltd, announced the launch of their new home loan product – ‘AdvantAGE’ earlier this week.

‘AdvantAGE’ is designed for parent-child where both together pay higher EMI in the initial years and then in later years, post retirement of parent, the child can pay lower EMI and offers higher loan eligibility and EMIs matching the income of borrowers. The product works well even for salaried customers who will have pension income post retirement.

Few features of ‘AdvantAGE’ allows loan amount of Rs 20 lakh to Rs 10 crores with Rate of interest upto 8.7% with loan tenure of upto 30 years (subject to retirement age) and eligibility criteria for the product  is that for both salaried and self-employed -one salaried individual should be co-applicant.

“With the launch of 'AdvantAGE' – we are enabling our customers to purchase their dream home with a customised loan structure. Our product offerings are linked to our strategy to emerge as a diversified home loan provide to cater to the wide variety of our customer needs," said  Khushru Jijina, Managing Director, Piramal Capital & Housing Finance Limited.

At present,Piramal Capital and Housing Finance has presence in Mumbai, New Delhi, Pune, Bengaluru, Nashik and Ahmedabad. The company plans to expand its presence in Chennai, Hyderabad, Jaipur, Nagpur, Surat, Vadodara, Navi Mumbai, Rajkot, Indore etc and looks to have to have more than 24 branches in Tier 1 & Tier 2 markets by 2020.

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Published on December 26, 2018
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