Home Loan

build your lifetime dream with home loans from us

Learn more about our Home Loan Scheme under TMB Retail Loan Products.

Our home loan scheme helps you to buy / build your dream home as per your choice at the best possible interest rate and longer repayment tenure with easy documentation and quick processing. Loans under this scheme are sanctioned based on the applicant’s past repayment record as well as his current income earnings.

  • To purchase land and Construct House
  • Purchase a New House
  • Purchase a New Flat
  • Fund the cost of Extension / Renovation
  • Purchase of Old House / Flat (#)
  • Take over from other Banks / Fls.(#).
Individuals aged between 18 and 50 years. In case of Joint Borrowers, if any one of the applicant's age is below 50, they can avail loan under “TMB - Home” Loan Scheme Jointly.
In case of Professionals like Doctors, Engineers, Lawyers, Chartered Accountants etc., the upper age limit may be relaxed up to 60.
Loan Quantum
Up to Rs. 300 Lakhs and for Renovation restricted up to Rs. 25 Lakhs.
Rate of Interest
  • Loans Sanctioned w.e.f 01.10.2014.
  • Loans Upto Rs. 30 Lakhs:
  • Upto 60 Months Loan - BR + 0.00% (10.60% p.a.).
  • Above 60 Months Loan upto 15 years - BR + 0.25% (10.85% p.a.).
  • Above 15 Years Loan upto 30 years - BR + 0.50% (11.10% p.a.).
  • Above Rs. 30 Lakhs - BR + 0.50% (11.10% p.a.) Irrespective of Period.
  • Current Base Rate for Lending (BR) is 10.60% p.a.
  • For New Flat - 25%
  • Plot Purchase and Construction of House - 25%
  • Construction of House - 10%
  • Renovation of House below 5 Years Old - 25%
  • Renovation of House above 5 Years Old - 40%
  • Renovation / Purchase of Old Flat - 30%
  • In case of outright purchase, the loan amount should be sanctioned based on purchase cost, market value or Registration Value whichever is lower. In case of the house construction on the pre-owned plot, the loan may be sanctioned with 10% margin provided the total realizable value of the property after construction (i.e. Land and Building) should be more than 133.34% of Loan Amount.
In case of HUF: Guarantee from Male Members of the HUF. In Case of Individuals: Spouse or father of the applicant or third party. Guarantee may be waived in appropriate cases by the concerned sanctioning authority based on repaying capacity of the applicant.
Within 25 Years (Excluding Holiday period). Equated Monthly Installment should not exceed 50% of Take Home Salary in case of salaried persons and ADSCR should be minimum of 1.50:1 for others.
Tax Benefits
Learn more about the Tax Benefits of Home Loan from TMB
Equitable mortgage of house / flat to be financed.
Penal Interest
Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest on the balance outstanding.
Processing Charges
1.00% of Limit sanctioned without any maximum cap.
Usual documents as per our Bank Norms.
How to Apply
Usual documents as per our Bank Norms.

Loan EMI Calculator:

Base Lending Rate 10.60% p.a. updated Jun 01, 2015.

For a Home Loan of Rs. 10,00,000 repayable in 300 equal monthly installments at an interest rate of 10.60% p.a., the equated monthly installment (EMI) payment shall be around Rs. 9,513.33. Click for Monthly Amortization Chart.

Tax Benefits:

Get Complete Details about Home Loan Tax Benefits.

Loan application documents:

  • Proof of Income (IT Return / Balance Sheet / Salary Certificate / Others).
  • Civil Engineer’s Estimation.
  • Copy of Title Deed of the Property, if applicable.
  • Approved Plan, if applicable.
  • Letter from Third Part Guarantor, if applicable.

# For purchase of Old House / Flat: House / Flat should be constructed within 20 years and residual life of the House / Flat should be 15 years and above. The Residual life should be certified by our Approved Engineer. Valuation of the property should be made by Approved Engineer and the Branch Manager.

# For take over from Other Banks / FIs: Loan amount will not exceed actual amount outstanding with the other Banks / FIs. Evidence should be obtained from the other bank/FIs that, it is a regular account. Repayment shall be The Residual Period with the other Banks / FIs. In case, if the customer insists for a longer repayment period than the residual repayment, it may also be considered provided the repayment falls with the residual life of the House / Flat. A Residual life certificate is to be obtained from our Approved Engineer.

All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.