The Hindu : ABN AMRO launches home loan products

Online edition of India's National Newspaper
Thursday, Feb 26, 2004

Business

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ABN AMRO launches home loan products

Romesh Sobti (left), Executive Vice President and country representative of ABN AMRO Bank, and Sandeep Bakshi, Managing Director and CEO, ICICI Lombard, at a press conference in Chennai on Wednesday. — Photo: Shaju John

CHENNAI: ABN AMRO Bank has launched its home loan products under the umbrella of `All Smiles Home loans' with several innovative features that provide multiple benefits for its customers in Chennai. These include a unique super saver package with an attractive two-year fixed rate component and a `split rate' option in addition to fixed and floating rate options. Romesh Sobti, Executive Vice President and Country Representative, ABN AMRO Bank N. V. (India), said as a promotional scheme, the package was launched with the first year fixed interest rate at 6 per cent per annum and the second year fixed rate at 6.5 per cent. The prevailing floating rate would be applicable from the third year onwards. In addition, it also announced its floating and fixed rates of interest plans. Additionally, the bank, in association with ICICI Lombard, introduced LoanProtect, a unique insurance cover on its home loan offerings.

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