TMB Affordable Home Loan

Features and Benefits

Construct your new home / purchase of new or old Home or Flat / renovating your home is easier with TMB Affordable Home Loan. Quick sanction with competitive rates and hassle free transfer your loan from other Banks/ FIs and enjoy the benefits of TMB Affordable Home Loan.

To purchase land and construct House / Purchase a New House / New Flat / or the cost of extension / Renovation / Purchase of Old House / Flat / Takeover from other Banks/ FIs.

Term Loan

For properties in metro areas: Up to 50.00 lakh – Cost of house / flat should not exceed 65 lakhs.
For properties in non-metro locations: up to 40.00 lakh – cost of house / flat should not exceed 50 lakhs
For Renovation: Not exceeding 10.00 Lakh.
Top-up Loans: Maximum of 15% of the original Loan amount or 7.50 lakh, whichever is lower

Eligibility and Terms

HUF, Individuals aged between 18 and 50 years.

In the case of joint borrowers, any one of the applicant/s is aged 50.

The sanction of housing loans under the scheme shall be restricted to one dwelling unit per family.

Margin :

New Flats - 25%
Purchase of plot and construction of house thereon - 25%
Construction of house on existing plots: - 10% on the cost of construction.

Renovation / Purchase of old house/old flat:

If the age of the house is below 5 years – 25%
If the age of the house is above 5 years – 40%
Old flat irrespective of age – 30%

Repayment :

Within a maximum of 30 Years (excluding Holiday period)

Security :

Equitable mortgage of the land / house / flat purchased / constructed / acquired under the Loan and the improvements / additions there to.

Interest and Fees

Interest :

Click here to know the Rates of Interest for loans

Fees & Charges

0.25% of the Limit Sanctioned + GST

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