Canara Bank: New Home Loan Schemes for NRIs, HNIs..

Canara Bank has launched 2 housing loan schemes targeting Non-Resident Indians (NRI) and high net worth individuals (HNIs) in India.

Mr. R. K. Dubey, Chairman & Managing Director of the Canara Bank, launched the two schemes here on recently.

Mr. Dubey said demand for dwelling units from NRIs is on the rise and depreciation of the rupee vis-à-vis the US dollar has prompted them to invest more in the housing sector. Also, demand from HNIs for large housing loans has increased, he added.

For NRIs, Canara Bank will offer housing loans of up to Rs. 30 lakh at the base rate of 9.95%.

In the case of home loans above Rs. 30 lakh and up to Rs. 75 lakh, the interest rate would be 9.95% plus 0.05%. For loans above Rs. 75 lakh, the interest rate is the base rate plus 0.25%.

The maximum home loan for NRIs will be 4 times their annual gross income.

The premium home loan scheme targets HNIs with gross annual income of Rs. 25 lakh and above, and with the minimum loan amount being Rs. 1 crore.

For NRIs - Home Loans..

Up to Rs. 30 lakh  -  9.95%.

above Rs. 30 lakh and up to Rs. 75 lakh  - 10% 

above Rs. 75 -  10.20%

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