Chuo Mitsui Trust & Banking Co. will launch on Wednesday a housing loan exclusively for women, featuring a special discount in interest rates when a recipient gives birth.
The Exerina loan will offer a discount by 0.1 percentage point per annum on mortgage interest rates for one year after the women give birth, said Chuo Mitsui, a unit of Mitsui Trust Holdings Inc. Women can receive the benefit every time they have a child.
The maximum 50 million yen, 35-year loan can be extended for purchasing condominiums in Tokyo, Kanagawa, Chiba, Saitama, Osaka and Hyogo prefectures.
These areas may be expanded to cover other parts of the country in the future, the trust bank said.
Those eligible for the loan must be 20 to 49 years old at the time they file an application, and must be able to finish repayments before they turn 75.
The mortgage comes with other benefits, including allowances of 1,000 yen per day for a maximum of 120 days in case the women are hospitalized. Women who take out the minimum 10 million yen, 10-year loan may also receive the allowances.