Existing Borrowers, who availed Housing Loan from Our Bank.
The Borrower switching over to our Bank from Other Bank/FI, subject to compliance of all the norms applicable for Takeover of Housing Loan.
The Borrower should have made repayment of 12 monthly installments regularly in the existing term loan (Housing Loan) as per original sanction terms.
All individuals, who have availed Housing Loan and paid at least 12 monthly installments regularly
Loan Limit :
The existing loan outstanding and proposed loan both put together should not exceed 80% of the market value of the property.Loan Amount is restricted to 20% of the existing housing loan limit (subject to maximum limit considered as Rs. 25.00 Lacs, (Rupees Twenty Five Lac only)).
The maximum loan under the scheme is Rs.5.00 Lac only.
Rate of Interest
Security: Supplemental Mortgage of the property offered as primary security in the existing loan account.
The Loan is to be repaid in EMI. Remaining period up to attainment of 70 years of age or 10 years, whichever is less