Housing Loans at 9.99% from GE Money

GE Money today has launched a home loan product with a floating rate of 9.99%, much cheaper than the 11% being charged by other home loan vendors.

Wizard Home Loans, a joint venture between GE Money and Australia’s mortgage major-Wizard, hopes to bag 30% of the Indian home loan market in the next there years by offering the cheapest rate. The company has launched its first floating rate product at 9.99% for a minimum of 20 years for a minimum loan of Rs 10 lakh.