State owned Central Bank of India (CBI) on recently signed an agreement with Tata Housing to offer a special home loan product exclusively designed for pensioners.
Mr.R. Sangapure, GM,Central Bank of India said, “We have signed an agreement with Tata Housing for our newly developed home loan product that will be offered to the pensioners at the upcoming Tata Housing's project at Washim on Mumbai's northern outskirts,“ .
The product namely CentHome Swabhiman Plus, which is yet to be approved by the regulator RBI (Reserve Bank of India), seeks to fund home buyers in the age group of 55 to 70 at a concessional rate.
While loans under Rs. 30 lakh will attract only the bank's prevailing base rate, those above this amount will be available at 0.25% above the base rate.
The bank has scrapped processing fee on loans under this product.
Tata Housing is developing a township at Washim, where one of the projects with 150 flats is being developed for pensioners.
Mr.R. Sangapure, GM,Central Bank of India said, “We have signed an agreement with Tata Housing for our newly developed home loan product that will be offered to the pensioners at the upcoming Tata Housing's project at Washim on Mumbai's northern outskirts,“ .
The product namely CentHome Swabhiman Plus, which is yet to be approved by the regulator RBI (Reserve Bank of India), seeks to fund home buyers in the age group of 55 to 70 at a concessional rate.
While loans under Rs. 30 lakh will attract only the bank's prevailing base rate, those above this amount will be available at 0.25% above the base rate.
The bank has scrapped processing fee on loans under this product.
Tata Housing is developing a township at Washim, where one of the projects with 150 flats is being developed for pensioners.
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