Can Fin Homes lowers rates
By Our Banking Bureau | 14 Jan 2002
Mumbai: Can Fin Homes (CFH) has reduced the rates of interest on its loans by 0.25 per cent for all slabs. CFH managing director G U Shenoy said in a statement that the new interest for a loan of five-year term will be 10.025 per cent an all-time low.
The interest rates for loans with the repayment period of six to 10 years are 11.25 per cent for loans up to Rs 2 lakh and 11.75 per cent for loans above Rs 2 lakh.
For 11 to 15 years, the interest rates will be 11.50 per cent for loans up to Rs 2 lakh and 12 per cent for loans above Rs 2 lakh. For loans extending from 16 to 20 years, the interest rates are 12.25 per cent for loans up to Rs 2 lakh and 12.50 per cent for loans above Rs 2 lakh.
The revised rates, effective January 14, will be applicable for construction, purchase, extension, renovation, upgradation, repair, site and composite loans. The company has also brought down the processing fee from 1.75 per cent to 1 per cent.
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