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Syndicate Bank, Bengaluru-based public sector bank, has announced the launch of its housing loan campaign called ‘SyndNivas Takeover Dhamaka’.
“The campaign is mainly to take over the existing home loans of other banks, NBFCs and housing finance companies (HFCs),” Mrutyunjay Mahapatra, MD & CEO, Syndicate Bank told Business Line. The housing loan campaign is for a period of three months from July 1, 2019 to September 30, 2019.
“The campaign, with the theme of ‘Switch & Save’ offers competitive home loan interest rate, amongst peer banks, of 8.65 per cent. The loan also provides an extended repayment period of 30 years (maximum exit age 75 years) including the loan period of the earlier lending institution,” Mahapatra.
“A top-up loan to attend to extension or repairs of the house can also be availed under this campaign. There will be zero processing and documentation charges for home loans and top-up loans taken over during the campaign period,” he added. With extended repayment period customers monthly EMI’s will lower and savings will increase.
“We also strongly believe that such campaigns will also provide an impetus to the Pradhan Mantri Awas Yojana (PMAY) and Syndicate Bank feels privileged in providing every little support it could to the government’s objectives”, explained Mahapatra. The campaign will be operational in all 4,062 Syndicate Bank branches across the country.
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