Housing Loan

  • Eligibility
    • Individual(s) over 18 to 70 years of age with steady source of income.
  • Purpose:
    • Purchase a plot of land for purpose of construction of house.
    • Purchase /construct a new house/flat
    • Purchase an existing (old) house / flat or extend an existing house
    • Repair or renovate an existing house /flat
    • Takeover of Home Loans from other Banks/HFCs/FIs
    • Furnishing/interiors as part of the project cost.
    • Re-imbursement of investment made from own resources during the preceding twelve months for purchase of house/flat/construction of house/repair and extension of house.
  • Quantum of finance
      Maximum loan amount will be lowest of loan amount assessed on the basis of
    • a. Permissible EMI/NMI ratio
    • b. Maximum permissible LTV ratio
    • c. Loan amount applied for
  • Margin
    • Up to Rs. 30 Lakh - Minimum 10%
    • Above Rs. 30 lacs and uptoRs. 75 lacs - Minimum 20%
    • Above Rs. 75 lacs - Minimum 25%
  • Security
    • Equitable Mortgage of Property for which applied for Housing Loan.
    • Post Dated Cheques
    • Check – off facility for salaried person
    • Third party guarantee for delayed mortgage.
  • Repayment Period
    • Maximum 30 years (or) up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early.
    • For Home Loan Borrowers falling under Individuals engaged in business maximum loan tenor will be 25 years.
  • Moratorium period
    • No moratorium period for purchase of existing house / flat / tenament etc.
    • Up to maximum 18 months for construction of new house /flat / tenament and extension/repair/renovation of existing house.
  • Rate of Interest
  • Processing Charge/Upfront Fee
  • Disclaimer:"Kindly contact the nearest branch for more details".