Housing For Furnishing

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Housing For Furnishing

    Purpose :
  • For furnishing and / or repairing of existing / new flats / houses.
  • All the existing borrowers who have availed loan under Allahabad bank Housing Finance Scheme.
  • Persons owning flats/ houses free from all encumbrances having regular income to liquidate the loan amount.
  • Loans are subject to take home pay.
    Loan Limit :
  • Cost of furniture and fixture (against proforma invoice) / cost of repair (estimation from an Architect / registered Valuer / Civil Engineer), subject to maximum Rs.5.00 Lac The total deduction including proposed loan installment should not exceed 60% of the monthly income as per lT return
  • Maximum Rs.5.00 Lac, subject to take home criteria as applicable to Housing Loan Schemes.
  • For existing housing loan borrowers, Furnishing Loan will be disbursed only after full disbursement of Housing Loan and utilization of Margin Money of Housing Loan.
  • Interest rate
  • BR+2.00%
  • Equitable / Supplemental mortgage of flat / house
    Repayment Period
  • Maximum 10 years
  • Moratorium Period
  • NIL (Repayment to start from the next month of disbursement).