Can Fin Homes cuts loan rates by 50 basis points

Bangalore: Can Fin Homes Ltd has cut rates on home loans by 50 basis points for all repayment periods above five years. The new rate for the six-to-10-year-term is 10.75 per cent for loans up to Rs 2 lakh and 11.25 per cent for loans above Rs 2 lakh, according to a press release issued here.

domain-B's currency converter - check it outLoans of the 11-to-15-year-term will carry 11 per cent for loans up to Rs 2 lakh and 11.5 per cent for loans above Rs 2 lakh. Loans in the 16-to-20-year-term will carry 11.75 per cent and 12 per cent for loans up to and above Rs 2 lakh, respectively.

The company has also introduced variable rate schemes at 11.5 per cent for all repayment periods and amounts subject to changes in time. Existing customers on fixed loan schemes, too, can opt for variable schemes on payment of a conversion fee, the release stated.