Dhanalakshmi Bank launches spl home loan product

Private sector Dhanalakshmi Bank today said that it has launched a special home loan product, Privilege Home Loan, targeted at select employees of top-rated corporates, PSUs, registered trusts and societies.

The home loan rates here would be nine per cent for loans up to five-years, 10 per cent for 5-10-years and 10.50 per cent for above 10-years, a press release issued here stated.

The rates are fixed for the first three years with an annual reset clause thereafter, the release said.

The new product facilitates purchase, construction of houses and flats including take-over from other banks and organisations. The minimum loan amount is Rs 15-lakh and the maximum, Rs 2 crore, the release said.

The maximum tenure will be 20-years.

Persons in the age-group of 21-55-years with a minimum monthly gross salary of Rs 40,000 (including income of spouse) are eligible for the loan.

The product has been launched at 30 select branches across the country, the release said.