Press Trust of India / Bangalore Jul 31, 2009, 15:16 IST
Can Fin Homes Ltd (CFHL), the Housing Finance company sponsored by Canara Bank, has announced reduction in the lending rates for fresh individual housing loans with effect from tomorrow.
This is the second rate reduction by the company during the current financial year, a CFHL release said.
The revised interest rate for all fresh loans would be 8.7 per cent for loans up to Rs 20 lakh, 9.00 per cent for loans above Rs 20 lakh to Rs 30 lakh and 9.75 per cent for loans above Rs 30 lakh.
The reduction in the rates is under variable interest rate scheme and shall be applicable for all repayment periods.
During the current financial year, the company is aiming for a disbursement of Rs 550 crore as against Rs 300 crore as of March 2009 with a growth rate of 83 per cent, it said.
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