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ABN AMRO Bank Home Loans Rates

Since the entire business of ABN AMRO Bank in India has been acquired by the Royal Bank of Scotland, the home loan products of ABN AMRO Bank have become the flagship products of the Royal Bank of Scotland in India. The loan programs have flexible terms and are customized to fulfill an array of needs of the consumers. ABN AMRO Bank home loans rates are one of the most affordable rates offered by the foreign banks in India.

About Royal Bank of Scotland India Home Loan Products

The Royal Bank of Scotland India offers a diverse array of home loan products to serve a variety of needs of consumers. The home loan products offered by Royal Bank of Scotland India can be broadly classified into the following:

Home loans: You can use these loans either for buying a home or building a home.

Secured Overdraft: If you are the owner of a residential property, then you can get a secured overdraft against your property. You can gain from the interest only payments on these loans.

Residential home equity loan: If you have built up a lot of equity in your residential property then you can go for a residential home equity loan offered by RBS.

Every self-employed and salaried individual can qualify for the home loan schemes provided by RBS India.

About ABN AMRO Bank Home Loans Rates/Royal Bank of Scotland India Home Loans Rates

Home loans from the Royal Bank of Scotland India are available at truly attractive rates. The current floating interest rates are given below:

Home Prime Lending Rate (HPLR) = 12.00%
Mortgages Floating Reference Rate (MFRR) = 11.00%

The reset dates for Royal Bank of Scotland Mortgages Floating Reference Rate (MFRR) are - 1st January, 1st April, 1st July and 1st October of every Calendar Year.

The reset dates for Royal Bank of Scotland Home Prime Lending Rate (HPLR) are - 1st January and 1st July of every Calendar Year.

Royal Bank of Scotland India has modified the reference rates from a higher to a lower level by 25 bps (basis points) with effect from 1st July, 2009.

Tax benefits available on RBS India Home Loans

Borrowers can avail tax benefits from a home loan in line with the Income Tax Act, 1961. Since the benefits might differ every year, borrowers should check out the existing benefits that are available.

How long will it require for a home loan to be processed?

The Royal Bank of Scotland India will put in the best effort to let you know about the status of your loan application. It is normally done within 4 working days from the date on which you have provided all the documents/essential details about yourself to the bank.

Are prepayment facilities available?

Yes, prepayment facilities are available for RBS India home loans. You can pay off your loan beforehand. There are no prepayment penalties for a partial prepayment of up to 25% of the yearly opening balance.



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