- All gainfully employed individuals singly or jointly
- Purchase of house/ flat/residential unit
- Construction of House
- Extension, repair/renovation of existing house
- Purchase of land and construction of house thereon
- Repayment of existing housing loan availed from other banks/ Financial Institutions/ other sources provided documentary evidence is produced
- Purchase of Furniture & Fixtures, other household goods such as TV, Fridge, AC, W/machine etc.
- Rs. 10.00 mn for purchase/construction of flat/house
- Rs. 3.00 mn for repairs/renovation/Refurbishment of existing house
- Rs. 1.00 mn for Furniture & Fixtures, other household goods such as TV, Fridge, A/c etc.
- 60 times of gross monthly income in case of salaried persons and 6 times of average annual income (last 3 years) in case of professionals / self employed.)
- Loan shall be lower of the maximum ceiling and calculation based on income.
- Loan over and above the captioned limit may also be sanctioned based on individual merits.
- 15%-Purchase of ready built house/ flat or construction of new house.
- 20% for others Project Cost will also include Mortgage Registration charges, Insurance Charges, Furniture & Fixtures and other household goods such as TV, Fridge, AC, W/machine etc
- 20 years (including moratorium period) for purchase/ construction of a new house / flat or takeover of loan from other banks/ FI.
- Repayment period may be increased to 25 years in deserving cases.
- For repairs / renovation / refurbishment of existing house – repayment period would be 7 years (including moratorium period)
RATE OF INTEREST
- Competitive Rate of Interest
* Condition apply
- 1st rank fixed charge on Flat / House purchased / constructed out of Bank finance
- One time fee of 1.00% of the loan
- Min.-Rs. 1000/-
- Max – Rs25000/
DOCUMENTS TO BE SUBMITTED ALONG WITH APPLICATION
- Copy of National ID Card
- Copy of Driving License for vehicle for which loan is applied.
- Salary Slips for last 3 months for salaried/ MRA return for businessman
- Estimates for cost of construction (in case of loan is applied for construction)
Time Frame for taking credit decision / disposal of proposal from the date of submission of data / information is within 10 working days for all credit facilities upto Rs. 300,000.00