Bangalore: Can Fin Homes Ltd (CFHL) has cut its housing loan rates by 25-50 basis points for various repayment periods. From 1 June 2002, CFHL is offering loans for the five-year-term at 10 per cent, while loans above Rs 2 lakh in the six-to-10-year-period are at 11 per cent, and those in the 110-to-15-year-period are charged 11.25 per cent.

Loans up to Rs 2 lakh in the six-to-10-year-period and the 11-to-15-year-period are at 10.75 per cent and 11 per cent, respectively. Loans in the 16-to-20-year-period up to Rs 2 lakh are at 11.5 per cent, while those above Rs 2 lakh are at 11.75 per cent.

CFHLs variable interest rate for all periods and slabs are at 11 per cent. Effective from 1 June CFHL has also reduced deposit rates. The new rates for monthly and quarterly interest options are 8 per cent for deposits of 12-to-23-months; 8.25 per cent for 24-to-35 months; 8.5 per cent for 36-to-47 months; 8.75 per cent for 48-to-59 months; and 9 per cent for 60-to-84 months. The yearly interest option for the same terms are 8.25 per cent, 8.75 per cent, 9 per cent, 9.25 per cent and 9.5 per cent, respectively.