Repco Home Finance Ltd (RHFL) has signed an agreement with National Housing Bank (NHB) for implementation of credit-linked subsidy scheme for the middle-income group.
The scheme will be implemented for one year with effect from January 1, 2017, in all statutory towns. The scheme divides middle-income group into two categories with annual household income up to Rs12 lakh and Rs 18 lakh.
The subsidy will be available for the two brackets for a loan amount of Rs 9 lakh and Rs 12 lakh at the rate of 4 per cent and 3 per cent per annum, respectively, for a tenure of 20 years. The maximum subsidy amount for an individual beneficiary is Rs 2.35 lakh.
Takeaways from above News-
- NHB CEO is Shri Sriram Kalyanaraman
- NHB headquarter is in New Delhi
- NHB founded in 1988
- RHFL ties with NHB for implementation of credit-linked subsidy scheme for the middle-income group.
If you have any other takeaways, do share with us in the comment section
Source- Business Standard