|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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