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AllBank Housing Loan

  • 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.

  • Margin :

  • 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

  • OR

  • 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