Which company offer Reverse Mortgage Loan in India

krs1945 · Joined: 11 Jul 2007 Posts: 1 1.56 Dollars($)

Pl provide names of institutioins and/or Banks offering Reverse Mortgage Loan in INDIA only.

Regard

Guest 0.10 Dollars($)

For one I have heard that Dewan Housing Finance Corporation Limited (DHFL) have started reverse mortgage programs in India. May be few others also but there are not many who provide this type of mortgage in India.

Guest 0.10 Dollars($)

"Pl provide names of institutioins and/or Banks offering Reverse Mortgage Loan in INDIA only.

Regards"

National Housing Bank (NHB) is also coming up with a reverse mortgage plan of its own in the market but is still in the planning stage.

larry · Joined: 27 Jun 2007 Posts: 2595 348.77 Dollars($)

Hi Krs,

In India, the Kotak Mahindra bank has also initiated a special offer for senior citizens where they will get an interest rate of 8.75% for the period of 1001 days, 25 basis points higher than the term deposit.

Guest 0.10 Dollars($)

rural property is considered for rverse mortgage loan?

larry · Joined: 27 Jun 2007 Posts: 2595 348.77 Dollars($)

Hi Murthy,

Reverse mortgages can be secured by either urban or rural property. The amount of the loan available will depend on the borrower's age and the value of his equity.

adonis · Posted: Sun Aug 05, 2007 8:07 am Post subject:

Murthy,

If you need the complete details on How reverse mortgage works in India, refer to the section on this topic.

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