Tata Capital Housing Finance to offer lower rates to women home loan borrowers

MUMBAI: Tata Capital Housing Finance will offer lower interest rate to women home loan borrowers, as they compete with growing number of public sector banks and institutions offering special loans for women.

Tata Capital Housing finance will offer home loan at 10.15% for women customers for loan upto Rs 40 lakhs. The finance company would charge 10.50% for other borrowers, a statement issued by the bank said. Country's largest bank, State Bank of India launched a scheme in December wherein it offered women borrowers loan at 10.10% for loan upto Rs 75 lakhs and 10.25% for loan above Rs 25 lakhs. These rates are 5 basis points lower than other customers.

Recently, LIC Housing Finance recently ended its special scheme for women borrowers where it offered a fixed rate of 10.10% for loan upto Rs 75 lakhs. It offered the scheme, which ended on Janaury 31, this year was open for seven months.

In a statement to media, Tata Capital Housing Finance said that the scheme would be open till March 8 this year. "To avail the benefits of this offer, a woman application much have title to the property either single or jointly and be a primary applicant of the loan," it said.