Word is that the Karnal Cooperative Bank in Haryana would soon begin offering home loans up to Rs 25 lakh at an interest of 10.5 percent a year.
Sources say for now loans would be given to people employed in govt offices, banks, municipal depts and educational institutions receiving govt. grants.
Giving home loans, the Karnal cooperative bank has changed the way things have traditionally been done by the banks in the cooperative sector in Haryana, add sources.
Officials of the bank claim, as the loans on offer are extremely low on interest; lots of people are expected to come forward to avail themselves of this facility.
Initially, the bank and its branches would give loans only for houses in residential sectors developed by the Haryana Urban Development Authority, said officials.