TAMIL NADU

Package of incentives for home loan seekers

Pondicherry Dec. 7. The Can Fin Homes Limited is making a drive to provide a package of incentives to those seeking loan for housing with the most competitive price for home loan products.

The company's ongoing all-India campaign aims at making a special offer with reduced interest rates starting with nine per cent for those registering their names with it during the campaign period.

A communication from the Managing Director, Peter D. F. Cardoon, distributed through local branch of the company, said here today that the campaign started as a home loan festival covering the country was launched on November 27 and would go on till the end of January next. The purpose of the campaign was to provide the best deal to those seeking housing loan.

The special equated monthly instalments were the lowest in the industry for most of the repayment periods.

No processing fee would be levied and only an administrative fee of 0.25 per cent would be payable towards legal, inspection and technical charges.

The Managing Director said those who registered themselves with any of the offices of the company during the home loan festival could avail themselves of loans with these terms by submitting the application on or before March 31 next. Even those who had not identified the property for purchase could register and avail the benefits.

Option would be available for customers to choose between the fixed and variable rate and the fixed rate chosen initially could also be converted into variable rate at a later date, if customers so desired, subject to certain terms. The festival offer is applicable for all loan schemes of the company and they included loans for purchase, construction, extension, upgradation, renovation, repairs of houses and site purchases.

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