Tata Capital Housing Finance Launches Accel Home Loans this Fes
Mumbai, September 18, 2018: Tata Capital Housing Finance Limited (TCHFL), the wholly owned subsidiary of Tata Capital Limited, today announced the launch of their new Home Loan scheme -- ‘Accel Home Loans’ this festive season. With a belief that buying a home during a festival period is auspicious, ‘Accel Home Loans’ empowers customers to buy bigger homes.
The scheme is structured such that EMI for the first 36 months comprises only the interest component and subsequently the customer pays the balance part of the loan. The aim is to provide financial ease at the beginning of the loan period and as the customer’s income grows the EMI gradually increases.
Speaking on the launch, Mr. Anil Kaul, Managing Director, Tata Capital Housing Finance Limited said, “Festivity brings in happiness and prosperity and we are very excited to launch Accel Home Loans as we usher in the season of celebrations. Our objective is to offer the professional salaried class an affordable home loan product aligned to the earning potential. This stepped up approach to a home loan also enables a customer to aim for a higher loan amount. Customers can also consider buying a bigger a home and have another reason to celebrate. Rapid urbanization, high economic activity, rise in nuclear families will help drive the growth of Accel home loans in India.”
India is home to more than 1 billion people and it is estimated that more than 350 million will be added before 2020. One of the biggest challenges with a population of this size is the widening gap between demand and supply for home finance. Affordability, accessibility, innovation and encouraging government’s policies will help boost home finance in India.
Tata Capital Housing Finance’s Accel Home Loans is targeted at salaried individuals with an overall work experience of 2 years. Customers can avail home loans of up to Rs. 3 crores with loan tenure of upto 30 years.