For construction of residential house on land already owned.
For purchase of house/flat to be used for residential purpose.
For renovation/extension/repair of residential house already owned.
For taking over of housing loans from other finance companies/financial institutions/banks.
Finance for aquiring 2nd residential unit.
Supplementary Finance due to increased income for carrying out alteartion/additions/repairs to the house/flat or for furnising .
Persons having regular income to liquidate the loans.
Housing loan to HUF will not be considered.
The employees who have availed of housing loan from their own organization may also avail of housing loan form the Bank.
Minimum Age: 21 years,Maximum Age: (i.e the age by which the loan should be fully repaid) 70 years.
Maximum Amount:Up to 500 lac.
Up to Rs.30 Lac - 10% Margin
Above Rs.30 Lac up to Rs.75 Lac - 20% Margin
Above Rs.75 Lac - 25% Margin
Equitable/Registered Mortgage of the property
Pari-Passu/Second charge over the property if the borrower(salaried person) has already availed loan from his/her organization.
Upto Attainment of 70 years of Age,Maximum 30 years.
Moratorium Period- In case of loan for construction of house,where land is alreadyowned or purchased- Maximum 18 months.
Moratorium Period- In case of loan for purchase of Flat under construction-Maximum 24 months.
Moratorium Period- In case of loan for repairing/furnishing of house/flat -3 months