Tata Capital Housing Finance Limited (TCHFL) on Monday announced the launch of home loan scheme to cater to the lower income and economically weaker segments as well as women and ST/SC loan seekers. Dubbed as ‘Prapti’, the scheme will offer home loans at subsidised rates starting from 4 per cent.
One of the highlights of Prapti is that it will provide loans to the lower income group in the peripheries of Metros, Tier I cities as well as those living in Tier II and Tier III cities. The scheme is applicable for households with an income of up to Rs 6 lakh per annum.
“Affordable housing segment is one of the high growth areas in the home loans business of Tata Capital and this initiative, coupled with flexible loan repayment options like step-up/step-down facilities will further help boost the low cost housing segment and strengthen Tata Capital’s market presence in this space,” the company release said.
R. Vaithianathan, managing director, Tata Capital Housing Finance said, “The ‘Prapti’ Home Loan scheme, with low interest rates and flexible loan repayment options will equip a larger base of the lower income segment to realise their dream of purchasing their own home. Our pan-India wide presence will help cater to the relevant customer segment in Tier II and Tier III cities across the country.”