| Eligibility |
Any person/ group of persons, salaried/ self -employed / business class/ retired jointly with employed spouse or son having regular income and capacity to repay installments of proposed housing loan. |
| Purpose |
-
Purchase of ready built House/Flat, Land and construction thereon
-
Repairs and Renovation
-
Shifting / take over of loan. (Take over of loans availed from other financial Institutions)
|
| Quantum of Loan |
-
For Purchase of ready built House/Flat, Land and construction thereon. :- Maximum Rs.100.00 lacs.
-
For Repair and Renovation - Maximum Rs.10.00 lacs.
|
| Margin |
- 20% : for Home Loan upto Rs.20.00 lacs
- 25% : Above Rs.20.00 lacs
|
| Repayment Period |
- Maximum 20 years in case of purchase/construction of house/flat/apartment inclusive of moratorium period.
- Maximum 9 years in case of repairs and renovations.
|
| Security |
- Equitable Mortgage of property to be purchased out of loan.
- Bappi Patta (original) along with fee deposit receipt at Gram Panchayat will be acceptable as security for loan
|
| Processing Charges |
- Loans up to Rs. 2.00 lacs - 0.50% of sanctioned loan amount
- Loans above Rs. 2.00 lacs - 1.00% of sanctioned loan amount.
|
| Foreclosure Charges |
Charges 2% of prepaid amount at the time of premature closure of account. However, prepayment up to six installments will not attract foreclosure charges. In other words, if a/c is prematurely closed when last not more than six installments are outstanding, the foreclosure charges will not be levied. |
