Federal Bank, a Kerala based bank, in order to meet house warming and other related expenses has unveiled an innovative product, 'House Warming Loan', which will be offered to the bank’s housing loan customers.
The loan, which can be availed by existing and new housing loan customers, is offered on acquisition/ completion of house/ flat. The bank will offer the loan at an attractive rate of 2% over the housing loan rate. The loan amount can be up to 5% of the housing loan limit with a maximum of Rs 2 lakh.
The private lender has a branch network of 1,014 branches and 1,107 ATMs spread across the country. The bank had total business of Rs 86,693 crore as at March 31 this year and has net worth of Rs 5,706 crore as at the end of fiscal.
