DCB to offer home loans below 8 per cent

Mumbai: New generation private bank Development Credit Bank (DCB) today announced the launch of its home loans at 7.95 per cent per annum for loans up to Rs5 crore.

The bank said the new interest rate was timed to coincide with the festival season.

''The onset of the festive season is an auspicious time for customers who will be looking to close out property purchase transactions," aid the launch of the new home loan,  Murali M. Natrajan, managing director and CEO. "We want that DCB customers should take advantage of the attractive rate for their dream home.''

Amongst the most competitive home loan rates in the market, 7.95 per cent is a fixed interest rate for the first year and thereafter from the 2nd year onwards a floating rate will be applicable.

DCB had recently launched customised products such as loans against fixed deposits, trade finance and business loans. The Bank offers a comprehensive range of contemporary banking products and services like Internet banking, mobile alerts, ATM and Debit card, online bill payment services.