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Dhanalakshmi Bank launches special home loan product

Dhanalakshmi Bank launches special home loan product
PTI
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First Published: Wed, May 27 2009. 03 32 PM IST
Updated: Wed, May 27 2009. 03 32 PM IST
Mumbai: Private sector lender Dhanalakshmi Bank has launched a special home loan product, Privilege Home Loan, targeted at select employees of top-rated corporates, PSUs, registered trusts and societies, the bank said on Wednesday.
The home loan rates here would be 9% for loans up to five-years, 10% for 5-10-years and 10.50% for above 10-years, a press release issued here stated.
The rates are fixed for the first three years with an annual reset clause thereafter, the release said.
The new product facilitates purchase, construction of houses and flats including take-over from other banks and organizations.
The minimum loan amount is Rs15 lakh and the maximum, Rs2 crore, the release said.
The maximum tenure will be 20 years.
Persons in the age group of 21 to 55 years with a minimum monthly gross salary of Rs40,000 (including income of spouse) are eligible for the loan.
The product has been launched at 30 select branches across the country, the release said.
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First Published: Wed, May 27 2009. 03 32 PM IST