DCB freezes homeloan rate at 7.95 per cent in the first year

MUMBAI: Private-sector lender, Development Credit Bank (DCB) on Thursday said it would offer homeloans at 7.95 per cent in the first year for new customers with immediate effect.

After the first year, the rates will be calculated on a floating basis. The offer will be available for housing loans upto Rs five crore, DCB Managing Director and CEO, Murali M Natrajan said.

The lender had recently launched customised products such as loan against fixed deposit, trade finance and business loans.