Housing Loan
Facility: Term Loan
Purpose:
For construction of Residential Houses or for purchase of existing Residential Houses, Flats for Self dwelling or for rental purpose.
Eligibility :
» Individuals and co-operative/group housing societies.
» Housing boards undertaking Housing projects.
» Owners of houses /flats for extension and up-gradation, including major repairs.
Security: Mortgage of Immovable Property
Guarantor: Government Employee/ I.T Assessee
Eligibility Loan Amount:
For Purchase /construction of House / Flat:
| Loan Amount | Margin(i.e. Contribution by Borrower) (Min.) | Maximum Loan To Value Ratio (Max.) |
| Upto Rs. 25 Lacs | 30% | 70% |
| Above Rs. 25 Lacs | 40% | 60% |
Rate of Interest: 10.00% PA
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Repayment:
Repayable in maximum of 180 months from the date of completion of moratorium period or completion of house whichever is earlier.
Interest method: Diminishing Method
Repayment:
Repayable in maximum of 180 months from the date of completion of moratorium period or completion of house whichever is earlier.
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.
Processing Fees: Nil
Terms & Conditions: As per Bank’s Loan Policy.