Housing Loans

Loan Product Name	Housing Loan	Commercial Housing Loan
Facility	Term Loan	Term Loan
Eligibility	Individual	Individual/Firms
Purpose	For construction of Residential Houses or for purchase of existing Residential Houses, Flats for Self dwelling or for rental purpose	For construction of Commercial Building/Offices or for purchase of existing Commercial Houses, Flats for Self or for rental purpose
Security	Mortgage of Immovable Property	Mortgage of Immovable Property
Rate of Interest	11.00% PA	12.00% PA
Loan Limit	Maximum Rs.200.00 Lacs	Maximum Rs.500.00 Lacs
Guarantor	Government Employee/ I.T Assessee	Government Employee/ I.T Assessee
Max Loan period	5 Years	5 Years
Repayment	Equated Monthly	Equated Monthly
Interest method	Diminishing Method	Diminishing Method
Margin	Up to Rs. 20 Lakhs Amount: 30% of Construction cost, Above Rs. 20 Lakhs Amount: 40% of construction cost	Up to 40% of project cost
Processing Fees	Nil	Nil
Basic Documents	KYC documents of Borrowers and Guarantors. Copies of IT returns for last 3 years A/c statement for last one year. Title Deeds of the property offered as security. Other Documents As required.	KYC documents of Borrowers and Guarantors. Copies of IT returns for last 3 years A/c statement for last one year. Title Deeds of the property offered as security. Other Documents As required.
Terms & Conditions	As per Bank’s Loan Policy.	As per Bank’s Loan Policy.