Housing Loan


Purpose For construction of own House.
For purchase of NA plot with fixed/confirmed plans to construct house thereon within stipulated period and should be for residence.[Undertaking to be obtained]
For purchase of ready built /under construction house or flat.
For purchase of old house/ flat (on resale basis).
For takeover of existing housing loans from other Bank/ Finance company.
Eligibility Individual/s, Salaried employees, Businessmen, Self- Employed, Professionals having regular source of income.
If property is registered in the joint names, all the joint owners should join as Co-Borrowers.
If income of the Applicant alone is not sufficient, other earning family members (spouse/ father/ mother/ son/ daughter) can join as Co-Borrower.
If the Applicant’s age is over 50 Yrs. in case of Salaried employee, and 60 Yrs. in case of Businessman, his / her earning son/ daughter to join as Co-Borrower.
Maximum Loan Amount Minimum ₹ 5.00 lakhs, & Maximum ₹ 70.00 lakhs.
Margin New Flat/ House: Minimum 20% of the purchase price
Resale Flat/ House: Minimum 20% of Market value or Agreement value, whichever is less.[Age of the building should not be more than 20 year& remaining expected life of the property should not be less than 30 years]
Repayment Period Maximum 15 years in general and Max.18 years in deserving cases.
In case of takeover cases, repayment shall be for residual period.
Rate of Interest Upto Rs.25 lacs 8.60% / Above Rs.25 lacs 8.90%
Security Equitable or Registered Mortgage of House/Flat/Land and House property constructed thereon to be financed.
Guarantators One Guarantor having sufficient means and income acceptable to Bank
Collaterals Not essential, but may be called for on case to case basis.
Processing Charge @ 0.40% of limit sanctioned
Subscription of Bank's Share @ 2.50% of limit sanctioned
Pre-payment Charges NO PREPAYMENT CHARGES

Terms & Conditions Apply.
Visit nearest branch for more details.


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