To woo its customer base and boost up its asset portfolio, the private sector lender has come up with a good deal for its home loan borrowers by way of cashback. Know in detail about the offer.
1. A good 1% cashback shall be available on each of the EMI for the entire tenure of the home loan.
2. For you to be eligible for the cashback under the offer, the minimum tenure for the loan has to be 15 years.
3. The cashback shall not be credited on an immediate basis but shall begin to accrue from the first EMI itself i.e. customer will get the entire cashback amount after he has completed three years of loan servicing or after paying 36th EMI, thereafter the credits for the cashback shall be made after payment of every 12th EMI.
4. Also, users have the option to use it to pay back their principal home loan amount or can retain the amount in their savings account with the bank.
5. The domestic as well as NRI residents will get the benefit under the offer. The cashback offer shall also be available on loan against property, top-ups on existing mortgage loans and lease-rental discounting.