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Image  RETAIL LOAN SCHEMES FOR BSNL EMPLOYEES

UNION HOME

PURPOSE
  • Purchase/ construction of house/ flat
  • Purchase of plot and construction of house thereon
  • Repairs/ improvements/ extension of the existing residential property
  • Take-over of housing loan availed from another bank / FI

ELIGIBILITY

  • Should be permanent employee of BSNL or employee on permanent deputation from Department of Telecom (DOT) to BSNL having regular source of income and having salary account with our bank.
  • Individual, either singly or jointly with other family members viz. father, mother, son and/or spouse, who have regular sources of income as co-applicants.

QUANTUM OF LOAN

  • Depending on repayment capacity of the borrower and value of property
  • Maximum Rs. 30 Lakhs for Repairs.

MARGIN, I.E. YOUR SHARE

  • 20% of the total cost of the purchase/ construction of house/ flat for loans upto Rs. 75 Lakhs
  • 25% of the total cost of the purchase/ construction of house/ flat for loans Above Rs. 75 lakhs to Rs. 2 Crores
  • 35% of the total cost of the purchase/ construction of house/ flat for loans Above Rs. 2 Crores
  • 20% of total cost of the repairs

MORATORIUM PERIOD

  • Moratorium period of up to 36 months.

REPAYMENT

  • Repayment period of up to 30 years
  • 10 years in case of repairs
  • Flexible methods of repayment

RATE OF INTEREST AND PROCESSING CHARGES

  • Please click here to know our latest interest rates
  • No processing charges
  • Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.

PREPAYMENT PENALTY

  • There is no prepayment penalty if loan is prepaid from own verifiable sources or taken over by other banks/FIs

SECURITY

  • Mortgage of the residential property
  • If the house/ flat proposed to be purchased is yet to be constructed or is under construction, interim security may be required (till the period of its completion)

GUARANTEE

  • Third party guarantee is not mandatory.

INSURANCE

  • Property insurance is compulsory to the tune of the value of the property

Validity of scheme upto 31/12/2018

**Conditions apply. For further details, please visit our nearest branch.


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