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Features

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
  • Indian citizen above 21 years
  • 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.
  • Siblings, i.e. brother-sister, brother- brother, sister-sister can be permitted as a applicants/co-applicants subject to the property must be in the joint names of the siblings.
  • NRIs are also eligible for the home loan. Contact our nearest branch for further details.
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
  • 50% concession in processing charges based on CIBIL score, valid till 31.03.2019
  • Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actuals.
PREPAYMENT PENALTY
  • Floating rate loans
  • There is no prepayment penalty if loan is prepaid from own verifiable sources or taken over by other banks/FIs.
  • Fixed rate loans
  • There is no prepayment penalty if loan is prepaid from own verifiable sources.
  • A take-over penalty of 2% is charged on the average outstanding balance of the preceding 12 months if the loanis taken over by any other bank / FI or adjusted by the borrower in lumpsum from any third party/source (except genuine sale)
SECURITY
  • Equitable mortgage (E.M.) 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 for Resident Indian
  • One/two guarantors of Indian Residents, having means equivalent to that of the loan amount, is to be provided by the NRI applicant
INSURANCE
  • Property insurance is compulsory to the tune of the value of the property
DETAILS OF RECENT BUILDERS TIE-UPS
**Conditions apply. For further details, please visit our nearest branch.

Forms & Documents

FAQs


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