Housing Loan
We know how special it feels own a house. Realize this dream through our housing loan scheme.
Purpose
- Construction, Purchase, Renovation of a house/flat
- Loan for purchase of plot for construction of house
- Takeover of housing loans from other banks
Who Can Borrow
- Individuals (Salaried employees/businessmen) in the age group of 21-55 yrs
Loan Amount
- Maximum of Rs.140 lacs
- Maximum of Rs. 5 lacs for repairs/ renovation of house
- Where loan is taken for purchase of plot and construction of house thereon the cost of land shall not exceed 60% of the total cost of project
Margin
- 15% of cost of construction or cost of flat(including stamp duty & registration) 10% of cost of repairs / renovation
Repayment
- Maximum 20 years(including gestation period )
Rate Of Interest
- The rate of interest as decided by the bank from time to time would be applicable
Security
- Mortgage of residential property (house/flat) or any other security as per bank’s policy
Guarantee
- Two guarantors whose net-worth is acceptable to the bank.
Processing Charges
- 0.5% of the loan amount + GST (subject to a minimum of Rs.1,000/-)
- Other legal and documentation charges on actual basis.
Share Holding
- 1.5% of the loan amount.
Documents Required
- Photograph, PAN, KYC documents of borrower and guarantor
- Income Proof (a) In case of salaried persons, salary slip for last three months, bank statement for last six months, ITR for three years and a certificate from the employer that no disciplinary action is pending against the employee. (b) In case of businessman, Balance Sheet of last three years, ITR of last three years, Bank statement of business a/c for last six months.
- Relevant documents related to the property being purchased or constructed like Title Deed, mutation copy, sanctioned map , agreement to sell etc as applicable)