Chennai Floods: Sundaram BNP Paribas offers special loan scheme

CHENNAI: To benefit customers affected by unprecedented heavy rainfall, Sundaram BNP Paribas Home Finance has offered housing loans up to Rs 10 lakh at a fixed interest rate of 8.50 per cent per annum.

The special scheme valid for disbursements till June 30 2016 would help customers reconstruct and renovate their housing units, the city-based company said in a statement.

"We have received concessional refinance facility from National Housing Bank. We are happy that NHB has quickly extended such a scheme at this critical juncture where finance is a dire need for rebuilding homes", company Managing Director Srinivas Acharya said.

The tenure of the loan would be three to seven years.

Sundaram BNP Paribas is a 50.1 per cent and 49.9 per cent joint venture between Sundaram Finance and France-based BNP Paribas.