Home loan scheme from the Dhanalakshmi Bank
By Chennai: | 14 Dec 2005
Chennai: The Dhanalakshmi Bank has launched a home loan scheme Grihalakshmi targeting the high net worth and high income individuals. Announcing the scheme, managing director and CEO P S Prasad, MD and CEO, said, that the scheme is designed to suit the borrower who has to pay only 6.75 per cent interest till March 2006, and thereafter 7 per cent. This was in line with the RBI guidelines from time to time, said Prasad.
According to executive director Nagesh S Belur, the floor limit for availing loans under this scheme was Rs25 lakh (there is no ceiling for the loan amount) with a lock in period of five years years. The tenure of the loan is 25 years.
The other highlights of the scheme are, low processing fee (Rs5,000) and no disbursal or pre payment fees. The scheme comes with an automatic life insurance and property insurance cover.