Lowest interest
rates, currently between 11.50% p.a. to 12.50% p.a. on reducing balances
Processing
charges waived upto 31st March 2002. Compare with the 1.5% - 2% charged by
others.
No hidden costs
or administrative costs.
No prepayment
penalties. Should you have surplus funds, you may conveniently reduce your loan liability
and interest burden. Compare with penalties of up to 2% charged by others.
In-principle
approval given prior to your identifying a house /flat, giving you flexibility in choice.
Complete
transparency - When we say our rate of interest is 12.00% p.a. you pay only 12.00%. When
others say 12.00%, you may be paying even 13.5% p.a., as interest may be levied even on
the amounts you have already repaid. This is because we apply interest on a daily/monthly
reducing balance while housing finance companies/ other banks mostly apply interest on
annual reducing balance. On an annual reducing balance, the interest for the full year is
decided on the balance outstanding at the beginning of the year. You continue to pay
interest even on the amounts you repay monthly during the year.
Note: Always compare the Equated Monthly
Instalments (EMI) and the total repayments you would be required to make rather than rates
of interest.
